phd in finance no gmat

PhD in Finance - Admissions

Apply to Gies, form your future in finance academia

The Finance PhD program seeks to admit students with the highest possible aptitude and potential for academic careers. Admission is based on the applicant’s background and accomplishments, potential for academic and professional success, stated educational and professional goals, and letters of recommendation. Decisions are made by a faculty committee and depend upon available space and the qualifications of the other applicants.

Admission Requirements

Minimum requirements for admission are as follows:

• Completion of a baccalaureate degree from an accredited U.S. institution or its equivalent from a university in another country.
• The minimum acceptable grade point average for admission is a 3.0 average (A = 4.0) in the last 60 hours of undergraduate coursework and in all graduate coursework.
• Acceptable scores on the verbal and quantitative sections of the Graduate Management Admission Test (GMAT). While there is no required minimum score, the average score of students admitted in recent years is over 700. The Graduate Record Examination (GRE), with an average quantitative score being 160, is accepted as a substitute for the GMAT. GRE scores are reported electronically by the Electronic Testing Service (ETS).  Please self-report your score on your application and request ETS to report your score electronically to the University of Illinois (Institution Code 1836, Department Code 4102).
• International applicants from countries whose first language is not English are required to submit results of the Test of English as a Foreign Language (TOEFL). Certain international applicants are exempt from the TOEFL requirement. Please see English Proficiency Requirements for details.
• IELTS is jointly owned by University of Cambridge ESOL Examinations (Cambridge ESOL), British Council and IDP Education Australia: IELTS Australia.

Application Deadlines

For 2024-2025 Academic Year: October 1, 2023 through January 15, 2024

Frequently Asked Questions

Can i apply for the spring semester.

No. Admission to the Ph.D. program is only offered for the Fall semester.

Are all international applicants required to submit TOEFL scores?

• International applicants are required to submit results of the Test of English as a Foreign Language (TOEFL), unless they satisfy one of the conditions for exemption listed below. Applicants are exempt from the TOEFL requirement if one or both of the following conditions are met:
• The applicant has completed at least two academic years of full-time study (as defined by the home institution) within five years of the beginning of the proposed term of enrollment, or the applicant has completed a graduate degree, in a country where English is the primary language and at a school where English is the primary language of instruction. That is, English must be both the language of the country and the language of instruction at the school.
• The applicant is from a country in which English is both the primary language and the official language. Please be aware that if you are admitted into the program you will be required to provide a TOEFL score in order to fulfill the TA requirement

Do you accept GRE scores in place of GMAT scores?

Yes, we accept GRE scores in place of GMAT scores.

How long does it take students to finish the program?

For most students, the program takes five years to complete.

Do I have to take the SPEAK test as part of the admission requirements?

The SPEAK test is not required for admission. However, international students must take the SPEAK test after they arrive on campus. (The University of Illinois requires that graduate students whose native language is not English pass the SPEAK test before they can be appointed as Teaching Assistants.) The Department of Finance makes arrangements for students to take this test on campus during the first year of the program.

Do you admit students who do not have a Master’s degree?

Yes, we admit students who do not have a Master’s degree. If admitted into the Finance PhD program, a Master’s degree can be earned, but students desiring a terminal masters degree are not admitted to the PhD program and should consider applying to the M.S. in Finance or the Masters of Business Administration.

Am I eligible to apply to the program?

If you have an undergraduate degree from an accredited U.S. college or university, or the equivalent from a university in another country, you are eligible to apply.

In a typical year, how many people apply and how many are admitted?

In recent years, around 100 people applied for an entering class of 3 students.

Do you provide financial support?

All admitted students are offered a tuition waiver plus a living stipend for 5 years that is conditional on making normal academic progress and fulfilling their obligations as a research assistant (RA) or a teaching assistant (TA). First year students are assigned as 10-hour per week RAs. Typically, second, fourth, and fifth-year students are assigned as 20-hour per week RAs. Third-year students serve as TAs to fulfill the program requirement that they obtain teaching experience.

Are international students eligible for scholarships or financial aid?

Admitted students receive financial support, regardless of nationality.

How long will it take before I am notified of the committee’s decision?

Applications are not reviewed until after the deadline date to apply. Please allow 3-4 weeks for a decision to be made. We will notify you of our decision via email.

May I submit unofficial or non-certified copies of my transcripts and degree certifications?

Official transcripts and degree certifications are only required if admitted into the PhD program.

I received my admission letter and I am admitted on limited status. What does that mean?

You may be admitted on limited status for a variety of reasons. The admission letter will clearly indicate the admission terms and the steps that need to be completed before full-admission status can be obtained. Some possible reasons for limited-status admission are:

• admission has been granted as long as a minimum grade-point average is maintained,
• non-native English speakers admitted with TOEFL scores below 103 or below 7.0 on the IElTS are required to complete an English Placement Test prior to their first semester of classes. Based on their performance on this test, they may be required to take English as a Second Language course(s) as part of their degree requirement.

If you are admitted on limited status you will be allowed to enroll for the first semester. You must satisfy whatever restriction is indicated in your admission letter to continue in the program.

Do I have to provide the proof of funding?

No, applicants do not need to provide the proof of funding. Students admitted into our Finance PhD Program receive a waiver of tuition and most fees, along with a living stipend. Students are still responsible for a small portion of fees, typically less than $1,000.

Do you recommend preparatory math classes?

Our program is heavily quantitative, so our admissions committee will want to see competency in this area.

Can I waive the GMAT/GRE requirement?

No. The GMAT/GRE test scores are a strong indication of the quantitative and verbal skills of an applicant. While the committee considers the composite application of each applicant, an official GMAT or GRE score must be included.

How can I order my official test score reports?

You can request your official test scores for the TOEFL and the GRE from the Educational Testing Service (ETS). Applicants to the PhD program should request their scores be sent to Institution Code #1836; Department Code 00 or 02 – all department codes populate the campus score database. Please note, this is an undergraduate code; however, it does populate all campus test score databases.

GMAT scores are provided by PearsonVue. Scores should be sent to the PhD program using the code VKR-TK-03.

May I come in for an interview?

Interviews are conducted on an invitation-only basis. Please refrain from calling or emailing the PhD office to request an interview. You will be contacted by the PhD committee if an interview is necessary to make a decision on your application.

Who should write recommendation letters?

Your recommendation letters should come from academic and business sources. These recommendations should emphasize your strengths in the following areas: quantitative and analytical analysis, written and oral communication, research potential, and relevant work experience.

How do I make a change on my application once it has been sent?

Once your application is submitted you cannot make changes online. Email [email protected] to let us know if any changes that need to be done or documents that need to be uploaded to your file.

15 Best Online PhD in Finance Programs [2024 Guide]

Looking for Online PhD in Finance Programs? Some schools have no GRE and offer accelerated courses to help you finish faster.

A doctoral degree in finance may be your ticket to the career you’ve always wanted.

Editorial Listing ShortCode:

This online finance degree can help you pursue an executive role or a teaching job related to accounting, banking, asset management, or financial policymaking.

Universities Offering Online PhD in Finance Programs

Methodology: The following school list is in alphabetical order. To be included, a college or university must be regionally accredited and offer degree programs online or in a hybrid format.

1. Capella University

With Capella University in Minnesota, students can study online to earn a DBA with a concentration in Accounting or a PhD in Business Management with a concentration in Accounting.

These programs are designed to help students learn about theories, methods, rules and ethical issues that influence accounting practice and consider the implications of practicing accounting within a global marketplace.

Before graduation, DBA students are expected to complete two residencies and submit a major research project. PhD students are expected to do three residencies and complete a dissertation.

Both programs use Capella’s GuidedPath format with weekly discussions and specific deadlines for submitting assignments.

• PhD in Accounting
• DBA in Accounting

Capella University  is accredited by the Higher Learning Commission.

2. City University of Seattle

When you study with City University of Seattle, you’ll have the opportunity to choose your own area of specialty for your DBA program.

Students who choose the Specialized Study concentration can submit a proposal for the graduate-level courses they would like to take as part of their studies.

If you’re interested in finance, you may be able to request courses on the topics of finance and accounting. During online classes, you’ll have opportunities to engage in live conversations with faculty.

You’ll be expected to submit a dissertation during your doctoral studies and complete three different residencies.

• DBA in Business Administration (Finance concentration)

The City University of Seattle is Accredited by the Northwest Commission on Colleges and Universities.

3. George Fox University

As you pursue a DBA with a concentration in Accounting from George Fox University, you may take classes like Advanced Applications of Ethical Reasoning and Compliance in Accounting and Advanced Topics in Accounting.

In addition, you’ll need to complete both a dissertation and a practicum for the program. During the practicum, you’ll have opportunities to try your hand at teaching or consulting.

Most of the work for this hybrid DBA program is online, but you’ll need to report to the school’s campus in Oregon a few times a year.

George Fox University  is accredited by the Northwest Commission on Colleges and Universities.

4. Hampton University

If you’re interested in a PhD in Business Administration, check out Hampton University in Virginia. The program students to pursue a concentration in Accounting and Finance by taking multiple credit hours of elective courses.

These electives include classes like Financial Accounting and Reporting Research, Accounting Theory, Corporate and Financial Institutions, and Behavior Finance.

Students at this university take online courses during the traditional school year and come to campus for two summer residencies. This PhD program is appropriate for current professionals and for those straight out of a master’s program.

• PhD in Business Administration

Hampton U  is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

5. Kansas State University

Do you believe that it is critical for individuals and families to have a solid financial plan for their future? If so, you may be interested in the PhD in Personal Financial Planning from Kansas State University.

You may choose to use this degree in the business world or spread your knowledge to others by working in an academic setting.

During the online doctoral program, you’ll need to come to the school’s Kansas campus for a few intensive sessions and go overseas to expand your knowledge about global markets. A dissertation is required for this program.

• Hybrid PhD in Personal Financial Planning

Kansas State University  is accredited by the Higher Learning Commission.

6. Liberty University

For those interested in numbers and money, Liberty University’s online DBA offers two concentration options: Accounting and Finance.

Both programs begin with the same core courses, but Accounting students take specialized classes like Accounting for Decision Making and Advanced Auditing while Finance students focus on classes like Managerial Finance and Advanced Financial Statement Analysis.

Whichever track you choose, you will need to take a comprehensive exam and complete a dissertation before graduation from this Virginia university. Accounting graduates often work as auditors or budget supervisors, and Finance graduates may choose to become treasurers or financial managers.

Liberty University  is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

7. National University

You can pursue a DBA or a PhD in Business Administration from National University. NU is a network of nonprofit institutions headquartered in San Diego, CA.

The school encourages students of either program to pursue high-level leadership positions, but the PhD program is research-based, and the DBA involves the application of research findings that are already available.

Specialization options for both PhD and DBA students include Financial Management and Advanced Accounting. All faculty hold doctoral degrees, and many tracks can be completed fully online. Dissertations are required for PhD programs.

• PhD in Business Administration – Advanced Accounting
• DBA in Financial Management
• DBA in Advanced Accounting

National University  is accredited by the WASC Senior College and University Commission.

8. Rutgers University

This university offers a PhD in Management; concentrations include Finance, Accounting or Accounting Information Systems. The concentration in finance offers courses like Investments, Corporate Finance, Theory of Corporate Disclosures, Control and Governance, and Econometrics.

The concentration in accounting offers courses like Current Topics in Auditing and Empirical Analysis of Financial Reporting. Students are expected to take a qualifying exam and defend a dissertation before graduating from these programs. The school recommends that students have master’s level education in mathematics, economics or computer science before applying for enrollment.

Rutgers University  is accredited by the Middle States Commission on Higher Education.

9. Sacred Heart University

Although Sacred Heart University does require DBA in Finance students to come to its Connecticut campus, the program is described as “low-residency,” and it is structured to fit the schedules of people who are already in the workforce.

Each student is part of a cohort that provides opportunities for networking and group projects. During the course of the program, students study topics like mathematics and global markets and choose electives like Fixed Income Securities or Portfolio Management.

Students are also required to submit a dissertation before graduation. The school’s DBA graduates often find work in government, academia, and corporations.

• DBA in Finance

SHU  is accredited by the New England Commission of Higher Education.

10. Saint Leo University

You can get an online DBA from Saint Leo University in Florida. The program offers classes like Analytics for Decision Making, Organizational Behavior and Social Responsibility, and A History of Applied Management Theory. It can help you acquire research skills and learn how to apply your findings to real-world business applications.

Before graduation, you will be expected to take a comprehensive exam, defend a dissertation and complete a practicum. This DBA course of study is particularly well-suited for students who want to go into consulting, but the school’s graduates also teach, work as CFOs, manage organizations and become investment analysts.

• Doctor of Business Administration

Saint Leo University  is accredited by the Southern Association of Colleges and Schools.

11. Trident University

Whether you want to earn an online DBA or a PhD in Business Administration, you can pursue your degree from Trident University in California.

One available concentration for the PhD program is Accounting and Finance; students on that track study topics like auditing, global markets, corporation finance, and taxation.

The DBA is a generalist degree that doesn’t include specialization. If you go the PhD route, you’ll need to complete a dissertation, and if you choose a DBA, you will be expected to complete a doctoral study. To help you move through the online program, the university offers its Doctoral Positioning System tracker.

• PhD in Business Administration – Accounting

Trident University  is accredited by the WASC Senior College and University Commission.

12. University of Dallas

Students at the University of Dallas can earn a DBA through a mix of online classes and time on the school’s Texas campus.

This program is designed for those who already hold leadership positions in the business world and desire increased advancement, and its flexible nature helps working professionals earn their doctoral degrees while remaining in their current jobs.

This generalist program includes classes like Agile Organizations and Emerging Technologies. If you choose this university, you will be expected to join a colloquium and defend a dissertation and will have the option to complete a teaching practicum.

The University of Dallas  is accredited by the Southern Association of Colleges and Schools.

13. University of South Carolina

The Darla Moore School of Business at the University of South Carolina offers an on-campus program through which you can earn a PhD in Business Administration.

One available concentration for this program is Finance, and classes include Current Issues in Finance, Empirical Methods in Financial Research and Theory of Finance.

Faculty in this department have earned multiple recognitions, including the Alfred G. Smith, Jr. Excellence in Teaching Award and the Mortar Board Excellence in Teaching Award. A master’s degree is recommended before admission to the program, but it is not a requirement.

• Hybrid DBA in Business Administration – Finance

The University of South Carolina  is accredited by the Southern Association of Colleges and Schools.

14. University of the Cumberlands

The PhD in Business program at the University of the Cumberlands takes business courses ranging from comparative economic and corporate finance to managerial ethics and responsibility. Students can choose one of their specialty areas like accounting, entrepreneurship, finance, etc. The Curriculum of this program will engage students in the theories, strategies, and tactics that they need to.

• PhD in Business (Finance concentration)

The University of the Cumberlands is accredited by the Southern Association of Colleges and Schools Commission on Colleges.

15. Walden University

Whether you’re interested in DBA or a PhD, you can earn it from Walden University. The DBA program offers concentrations like Accounting and Finance. On the path to earning a DBA, you can complete a doctoral study, assemble a portfolio or take part in a consultation program in which you work with a local organization or company.

If you would prefer to earn a PhD in Management, you can select a 21st Century Finance concentration, which requires the completion of a dissertation. Both the DBA and PhD tracks can be completed through online study.

Walden  University is accredited by the Higher Learning Commission.

Online PhD in Finance Programs

If you have a particular area of interest within the world of finance, then you may want to select a corresponding degree concentration.

PhD in Finance

Phd in financial management, phd in financial planning.

A concentration can give you opportunities to take an array of courses designed to hone your knowledge on that particular topic.

If you are a numbers person, there’s a good chance that you like accounting just as much as you enjoy general financial topics. This concentration can allow you to explore both of these areas of study.

You might put this degree to work in corporate or academic settings. You may also be interested in an Online PhD in Accounting program .

Being in charge of a company’s financial resources requires a special set of managerial leadership skills. A concentration in financial management can help you gain those skills.

This concentration is designed to teach topics like building a solid financial strategy and navigating international markets.

Helping individuals do their best with their money is the goal behind a concentration in financial management.

This concentration can help train you to guide wise financial choices as you learn not only about asset management and investment growth but also about how to influence smart decision-making through relational know-how.

With a PhD Financial Planning degree, you may help others manage their money, lead a financial advisement company, or teach future finance students.

Doctorate in Finance Salary

Earning your doctoral degree in finance may open many career paths to you. Once you graduate with this degree, you may work in an academic setting, a nonprofit organization, the corporate world, or the public sector.

Here are a few jobs you may be able to look forward to, along with the U.S. Bureau of Labor Statistics job outlook and average salary information.

Budget Analyst

Budget analysts are responsible for setting an organization’s budget and helping the company stick to it.

• Outlook for job growth: 5% increase
• Median salary per year: $78,970

This may be an enjoyable career path for those who want to understand all facets of a company – tracking and justifying where each penny goes. Budget analysts make recommendations for investment and expenditure to boost their company’s profitability.

Financial Analyst

Financial analysts are responsible for paying attention to the market in order to make recommendations on how people or businesses should invest their resources.

• Outlook for job growth: 6% increase
• Median salary per year: $83,660

Rather than monitoring their business or organization, they monitor the economy as a whole. This career may be ideal for those who find financial markets interesting and have a deep understanding of investments.

Personal Financial Advisor

Consider this career path if you want the satisfaction of knowing that you’re helping others plan for their futures.

• Median salary per year: $89,330

You might also need to have a knack for marketing and sales as you attract and welcome new clients to your firm. In this role, you might work for a successful money management company or start your own practice.

Finance Professor

You may be able to pass your knowledge onto others by teaching students at the university level.

• Outlook for job growth: 7% increase
• Median salary per year: $88,010

Like many careers, you’ll need more than knowledge of the financial sector to be successful in this position. You’ll need organization and communication skills to be able to teach effectively. You’ll also need to be willing to prove your teaching effectiveness to your department via annual reviews.

If you enjoy teaching, researching, and discussing business, you may find yourself quite at home among the faculty of a business college.

Curriculum for Finance PhD Programs

Similar to a MBA in finance or online master’s in finance , when pursuing an advanced degree in finance, you’ll likely take a variety of courses designed to equip you with a thorough understanding of financial matters and how they relate to decision-making for individuals and businesses.

Your classes may include:

• Accounting and Control for Nonprofit Organizations
• Business Ethics
• Business Valuation
• Data Analysis for Investments
• Financial Management for International Business
• Human Resource Development
• Investment Portfolio Analysis
• Managerial Finance
• Mathematical Foundations for Finance
• Mergers & Acquisitions
• Money, Capital Markets & Economic Growth
• Quantitative Research Design & Methodology
• Real Estate Finance
• Real Option Valuation
• Risk Management
• Strategic Thinking for Decision-Making
• Stochastic Foundations of Finance

Since your program will likely encourage you to take a mix of both foundational classes and specialized electives, the coursework listed above includes both core classes and electives. Your PhD in finance requirements may also include a dissertation or capstone project. A growing number of doctorate programs have no dissertation required , but these tend to be professional doctorates, not PhDs.

Choose programs with a capstone project if you’d like to finish your degree faster. Dissertations can often take 2-3 years more to complete after you finish your coursework.

DBA in Finance vs. PhD in Finance

When you have your sights set on a finance degree, there are two different doctoral routes you can take. You could earn a doctorate of business administration (DBA) in finance or pursue a Doctor of Philosophy (PhD) in finance.

Although you can learn a great deal about numbers, money, and economics either way, the two different degrees will likely set you on divergent career tracks.

People often choose a professional doctorate, such as a DBA in Finance, if they want to put their education to work in the field — for example, working on Wall Street or in a Fortune 500 company.

A DBA in Finance:

• Is typically pursued by those who want to stay with their current company or work for another corporation.
• May involve drawing from others’ data and research for the culminating project.
• Is often pursued by those with several years of professional experience.

A PhD in finance is often pursued by people who want to work in an academic setting. You may find that a PhD program focuses more on the theoretical aspects of finance than the practical ones.

A PhD in Finance:

• Is typically pursued by people who want to conduct research, get published or teach.
• Typically requires conducting original research.
• May be good for those straight out of school, such as recent graduates of a master’s in finance or master of accounting program.

Think about what you want to do for your career, then choose the degree that best fits those goals.

Online vs. Traditional Finance Degree

When it comes to online versus traditional finance doctoral programs, the main difference is the format through which the material is presented. The content should remain about the same, and the rigors of the program likely will as well.

You may choose a fully online program, an on-campus one, or a hybrid mix.

Accreditation for a Doctorate in Finance Online

Universities receive accreditation as proof that their programs provide a thorough educational experience for students. Therefore, when you’re looking for a doctor of finance program, the school’s accreditation should be the first thing that you consider.

Reputable universities receive accreditation from a regional accrediting agency . These organizations give a broad stamp of approval to the entire school rather than to its individual programs. It is essential that you enroll in a school with regional accreditation.

In addition, there are several national and international organizations that provide accreditation specifically for business programs. Although this type of accreditation may not be absolutely essential, it’s certainly a valuable sign that the program is thorough, reputable, and excellent in quality.

A finance program may be accredited by:

• Accreditation Council for Business Schools and Programs (ACBSP)
• Association to Advance Collegiate Schools of Business International (AACSB)
• International Assembly for Collegiate Business Education (IACBE)

The top finance PhD programs are accredited both regionally and programmatically by one of these specialty boards. You can find your chosen university’s accreditation by searching the US Department of Education’s accreditation database .

Financial Aid for a Finance Degree

As you begin looking into finance PhD programs, don’t forget to also look into financial aid opportunities. At the doctorate level, you may still be eligible for federal financial aid as well as fellowships and scholarships from universities and scholarships from private organizations.

Your employer might even have tuition assistance programs available.

Can I Get My PhD Online?

Yes, many universities offer online PhD and professional doctorate programs. This includes doctoral degrees in finance, public health, education, nursing, and organizational leadership.

This approach can help you earn your advanced degree in a format that fits your schedule.

Is an Online PhD Respected and Credible?

In an online program, you should have to work just as hard as you do in an on-campus program. Additionally, your official records are unlikely to specify how you earned your degree.

The important thing is not the format in which you completed your coursework but whether you attended an accredited university.

Are There Any Online PhD In Finance Programs?

Earning a doctoral degree in finance doesn’t have to require moving onto campus or uprooting your whole life. Rather, there are programs for a DBA or PhD in finance online.

In these programs, you can engage in a computer-based educational experience as you work toward your degree.

Getting Your PhD in Finance Online

To take your finance education to the highest level, you may want to pursue a doctoral degree in this field, whether a PhD or a DBA.

Completing your coursework online can help you receive a solid education in a format that fits your lifestyle and prepare you for the next step on your career path.

Use the above list of schools to narrow down the finance PhD programs for you.

Related Guides:

• Best Online Masters in Finance No GMAT
• Finance vs. Accounting – What’s the Difference?

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PhD How to Apply

We’re delighted that you’re interested in applying to the stevens doctoral program chicago booth..

Admission is highly competitive. About 20-25 outstanding students enter the Stevens Program each year. In evaluating applications, we consider a wide range of factors, including your academic background and performance, essays, research interest and potential, prior exposure to academic research, strength of recommendations, and standardized test scores (only where required). You may only apply to one dissertation area  per year. Please note the application for Fall 2024 admission is now closed. You can find details related to Fall 2025 admission below.

Applicants to the Stevens Program must hold a four-year bachelor’s degree from an accredited university (or expect to receive one by the time they enter the program).

Non-US residents should consult the International Applicants page  to learn more about eligibility requirements. Please note that all international applicants must determine if they meet the University of Chicago's English-language requirements before applying. You can find that information in the fluency determination section. Chicago Booth prides itself on a fair and impartial selection process. To find out more, read the Nondiscrimination Statement .

Admissions FAQ

Admissions Timeline

Please note the application for Fall 2024 is now closed. Our application for Fall 2025 admission will open in September 2024 and be available through December 15, 2024. The Stevens Program matriculates new students once a year, in the Autumn Quarter. The application deadline is December 15, and applicants are notified of their admissions decision by email. Generally speaking, all applicants should have their decisions by early March. Reviews in each area will begin at different times, after the December 15 deadline, which will impact the timing of the release of admissions decisions for each area. In advanced stages of the review process, some areas will require an interview. Applicants will be notified directly by email if they are invited to interview.

Application Checklist

To apply, please submit the following.

• Application for admission. The application for Fall 2024 is now closed. Our application for Fall 2025 admission will open in September 2024 and be available through December 15, 2024.  
• Nonrefundable application fee ($80). If you're interested in applying for a fee waiver, please see below for eligibility requirements and instructions.
• It is the responsibility of all applicants to ensure that test scores are submitted to the Stevens Doctoral Program by December 15. We will accept test scores received after the application deadline; however, if you submit them after December 15, your application may be reviewed before your scores arrive.To meet the application deadline, we recommend that you take the required test by early October. GMAT and GRE scores are valid for five years. Prior coursework or degrees at the graduate level (e.g., MBA or master’s degrees) do not exempt applicants from submitting the GRE/GMAT as part of their application.  

Please see below for area-specific score requirements: Economics: GRE is required. Finance: GRE is strongly preferred, but GMAT is acceptable. Joint Program in Financial Economics: GRE is required. Joint Program in Psychology and Business: GRE is preferred, but GMAT is acceptable.

Scores should be sent directly to the Chicago Booth Stevens Doctoral Program by listing the institutional codes below when taking the exam: GMAT: H9X-9F-05 GRE: 1501 TOEFL (if applicable): 1819 IELTS (if applicable): send TRF number to [email protected]

You may apply for a hardship request for delayed test scores if you are in an area where disruptions may be taking place. You will still have to submit your application by the deadline regardless of if you've been granted more time to submit individual scores. Please note that we can't make a formal offer of admission to an applicant until they've submitted their test scores. You can find more information below in the section titled "Hardship Requests for Delayed Test Scores."

• It is the responsibility of all applicants to ensure that test scores are submitted to the Stevens Doctoral Program by December 15. We will accept test scores received after the application deadline; however, if you submit them after December 15, your application may be reviewed before your scores arrive.
• Please see the international applicants page for valid score instructions (including minimum score requirements)
• Transcripts from all institutions attended after high school
• Letters can be submitted after the deadline, particularly if your recommenders are in an area where disruptions may be taking place. Please note that we do accept letters through Interfolio.
• Applicants will respond to writing prompts as instructed in the application. The response(s) may take the form of a statement of purpose, but a formal statement is not required to fulfill the component. For reference, you can find the application instructions below:

Please write a short essay that describes your basic research interests. Describe your exposure, if any, to research in your field of interest. Include non-academic personal or work experiences only if they are directly relevant to the formation of your research interests. Please briefly describe your long-term professional objectives.

• Optional writing sample

Hardship Requests for Delayed Test Scores:

Applicants for whom a recent natural disaster or other major, widespread disruption has affected their ability to submit required components may submit a Hardship Request as described below. Please note all applicants have to submit their application by the deadline regardless of if they've been granted more time to fulfill an individual component. If the impact of the incident or disruption makes it difficult for you to submit one or more required components – such as GRE scores,TOEFL scores, transcripts, etc.– by the deadline, please complete your application to the best of your ability and then submit a formal hardship request here. If deemed eligible, we may approve a temporary delay of test scores and allow you to submit your application without one or more required application materials (e.g. GRE or TOEFL scores), although it does not waive the requirement(s). You will still be required to submit the missing item(s) as soon as circumstances allow. Please note we cannot extend an offer of admission before official test scores have been submitted.

Application Fee: Waiver Eligibility Requirements and Instructions

Upon submission of an application, applicants will be prompted to pay the $80 processing fee. Some applicants may be eligible to receive an application fee waiver. In order to request a waiver, please review the five categories below to determine if you meet the eligibility criteria. Note that you'll only be able to submit a waiver request within the application. You'll upload the supplementary documentation there as well . We will only reach out to individuals whose request for a fee waiver has been declined. If you do not receive a confirmation of determination from us, that means you've been deemed eligible to receive the waiver and it'll be applied to your application once we've processed it. Please do not reach out to confirm the status of your waiver and note that there are often delays in it showing up on your application checklist. Be advised that application fees are non-refundable, regardless if you're later determined to be eligible for a waiver or not. Fee Waiver Categories: Category A: Current University of Chicago student or University of Chicago alumni from degree programs (includes current non-degree visiting students and past non-degree visiting students). You'll be instructed to upload your transcripts as verification. Category B: Current University of Chicago Staff (including full-time research professionals). Category C: Current/recent participants in a qualifying program. Documentation certifying participation is required. Acceptable forms of documentation include award or acceptance letters, letters from program directors, program completion certificates, etc. Qualifying programs are: AEA Summer Programs attendees Americorps/Vista Big Ten Alliance FreeApp Recipients Bill and Melinda Gates Millennium Scholars California Forum on Diversity Expanding Diversity in Economics (EDE) Summer Institute attendees Fulbright/IIE Fellowship recipient GEM GRE fee reduction voucher recipients IDDEAS participants (IDDEAS@Booth/Kellogg or IDDEAS programs hosted by other schools) Institute for the Recruitment of Teachers (IRT) Leadership Alliance Mellon Mays Undergraduate Fellowship National Name Exchange Next-Gen Psych Scholars Program (NPSP) Peace Corps PhD Project Annual Conference attendees Posse Foundation Scholars Project SHORT Public Policy and International Affairs Program (PPIA) Ronald McNair Scholars and/or Post Baccalaureate Achievement Program SACNAS Sadie Collective Summer Institute for Social Science Research Methods Teach for America U.S. Armed Forces or uniformed services: Currently serving (active duty or reserves) or honorably discharged

Category D: Current undergraduates receiving need-based financial aid from a U.S. institution: If you are currently (as of the date of the application deadline for this program, i.e. December 15, 2024) enrolled as an undergraduate student at an institution within the United States and are receiving need-based financial aid from your current institution, you may be eligible for an application fee waiver. A copy of the institution’s financial aid letter or a letter from the institution’s financial aid office is required. Category E: Individuals experiencing financial hardship: Applicants who are experiencing financial hardship and are not eligible for a fee waiver under any of the other categories may be considered for a fee waiver. Applicants requesting an application fee waiver on the basis of financial hardship must upload a brief written statement which explains their financial hardship and how they intend to cover their pre-matriculation expenses (e.g. moving expenses) if admitted. You will also be prompted to complete a hardship request form within the application. Application fees are non-refundable. If you are requesting an application fee waiver, do not pay the application fee while your request is under review. You should only pay the fee if you receive an email from us indicating that your fee waiver request has been denied. All applicants are automatically prompted to pay the application fee upon final submission of their Stevens Doctoral Program application whether an application fee waiver was requested or not, so please disregard this request for payment unless/until the fee waiver request has been denied. If your request is approved, we will manually waive the fee once we have determined your eligibility. Application fee payment will not be refunded if: -You pay the application fee before receiving our fee waiver request decision, and later have your waiver request approved. -You do not complete the fee waiver request form inside the application and pay the fee, then later realize you were eligible for a fee waiver. Fee Waiver Decision Notification We will not be reaching out to applicants whose request for a fee waiver has been approved. You will only be notified via email if your request has been denied. We do not make any determinations before your application to the Stevens Doctoral Program has been submitted, so please make sure to do so by the application deadline. Fee waiver requests are subject to review, are not guaranteed, and are not automated. Because reviews and waivers are done manually, it may take up to several weeks after the submission of your Stevens Doctoral Program application before you receive a decline notification or see your approved waiver show up on your account (fee waiver requests will not be reviewed until the full application has been submitted). Only applicants who select one of the categories above, provide the requested information/documentation, and qualify for the waiver under that category may receive a fee waiver. Fee waiver approvals are subject to the criteria listed above.

Admission to Joint PhD Programs

Joint Program in Financial Economics

Admission to the Joint Program in Financial Economics requires admission to both the doctoral program in the Kenneth C. Griffin Department of Economics and to the doctoral program at Chicago Booth, but interested parties need only apply to one or the other program. Students may enter the joint program at the beginning of their doctoral studies. Those seeking admission to the joint program should apply online to either the PhD program in the Department of Economics or Chicago Booth. The GRE is required for all applicants to this program.

Students enrolled in doctoral studies in either the Department of Economics or Chicago Booth may apply to the joint program at any time within their first two years in residence. Such students will still have to meet all of the requirements of both programs.

Enrollment and financial aid throughout a student's matriculation in the joint program will be administered by either the Division of the Social Sciences or Chicago Booth, as arranged by the two units. This designation will be for administrative purposes only and will not have programmatic implications. If a student's interests change, the director of the Stevens Program at Chicago Booth and the dean of students for the social sciences will facilitate transfers out of the joint program and into the doctoral program in economics or business.

Joint Program in Psychology and Business

Students interested in applying to the Joint Program in Psychology and Business through Chicago Booth should apply online for admission to the Behavioral Science dissertation area. Once admitted, students seek a faculty research sponsor in the Department of Psychology. After a faculty sponsor in psychology has been identified, admission to the Joint Program is generally automatic. Entry into the Joint Program in Psychology and Business normally occurs during the first year of study. Applicants should state their interest in the joint program as part of the application process so they can be given advice in making the connection to faculty in the Department of Psychology. Although the GRE is preferred for applicants to this program, the GMAT is accepted.

Joint PhD/JD Program

To earn the joint PhD/JD degree, you must be admitted to both the Law School and Booth’s Stevens Program. You may apply to both programs at the same time, or you may begin one program and then apply to the other at a later date.

US Military Personnel

Admitted students who are called to active duty prior to matriculation will be granted a deferral of admission and Chicago Booth financial aid to the following year. Deferrals will be reviewed/extended on an annual basis.

The Stevens Program at Chicago Booth accepts up to three courses in transfer credit from other approved institutions. These credits can only be used toward the coordinated sequence requirement. The Stevens Program does not grant credit for experiential learning or online courses.

For details on readmission, taking a leave of absence, resuming studies, academic grievance policies, and add/drop requirements, please see this Guidebook .

If you still have questions after reviewing our doctorate in business FAQ , please contact us. We look forward to hearing from you!

Phone: 773.702.7298 Email Us

2100 accredited US Universities for Graduate Programs. 400+ specializations.

1400 No GRE, GMAT schools for the Master’s program

700+ Graduate scholarships totaling $3.5 mm

No GRE/GMAT Masters Program in Finance

Many reputable institutions and colleges offer master's degrees in finance. Because master's degrees in finance are highly competitive, students are advised to work on their applications with great GPAs, transcripts, letters of recommendation, resumes, and personal statements among other things. Many colleges also require GRE or GMAT scores for admission. However, a large number of universities have waived the GRE requirement.

For instance, the Finance Division of Columbia Business School offers a master's degree program in financial economics that is STEM-eligible. Students can submit either GRE or GMAT scores. University of Pennsylvania's Wharton School offers a Ph.D. program in Finance. The Wharton Doctoral Program requires all applicants to take and provide scores for either the Graduate Management Admissions Test (GMAT) or the Graduate Record Examination (GRE).

796 offer Graduate programs in Finance. Below are listed 10 universities that do not require GRE/GMAT for admission to Master's program. For viewing the all the schools that have waived off GRE/GMAT for the admission, use Match Me Masters .

Princeton University

The master's in Finance program at Princeton University combines specialized professional counseling with top-tier academic education to best prepare students. For fields like algorithmic trading, quantitative asset management, risk management, fixed income analytics, and other areas where sophisticated security pricing and analysis heavily rely on quantitative input, a master's degree in finance has emerged as the ideal degree.

The curriculum which comprises five core courses and eleven electives prepares students for careers in areas other than typical investment banking, such as risk management for traditional industrial enterprises, insurance, commercial banking, and trading in commodities and energy. The program can be completed in two years. There is a lot outside of the classroom to discover and learn. Through campus-wide events and lectures, students can interact with other groups of students outside of their program. From scraping art to more effective research workflow management, Princeton has covered it all.

The program spends significant time and money on educating students for a variety of occupations both inside and beyond the financial industry. All enrolled students get access to one-on-one career counseling and support in addition to studying with some of the most renowned instructors in the world. Students gain from the center's excellent relationships with its global alumni network and corporate partners when looking for jobs and internships.

Princeton BCF's Master's in Finance program, consistently ranked first in several international academic rankings, gives students the background in financial economics, data analysis and technology, financial engineering, and computational methods they need to land competitive jobs in both the public and private sectors.

Master's in finance: GRE not required.

Admission Requirements for master's in finance:

•  Academic transcripts, including math courses taken.
• Three letters of recommendation
• A personal statement.
• GRE or GMAT test scores are accepted, but not required. 

Master in Finance

• GRE Required:  No
• Research Assistantships:  733
• Teaching Assistantships:  655
• Financial Aid: Register to view the details

Yale University

JD-PhD in Finance is a unique program offered by Yale University. The curriculum equips aspiring legal scholars with the analytical techniques required for conducting business law-related research. Alumni of the program hold dual posts in law and business schools or are professors in law schools. Eight courses, five of which are prerequisites: MGMT (Financial Economics I); Economics (Econometrics I and II); Economics (General Economic Theory: Microeconomics), General Economic Theory: Microeconomics (which introduces game theory), and two additional Ph.D.-level finance courses form a part of the primary curriculum.

Students need to complete 71 credits as a part of the program. Students also need to write a thesis. Usually, a dissertation has three essays. The Graduate School is in charge of selecting the readers; however, they often choose two secondary advisers and one additional faculty member. There are some pre-dissertation requirements as well. There are two papers that must be completed: one must satisfy the SOM second-year research paper requirement, and the other must satisfy one of the Law School's writing requirements. 

Courses for the Ph.D. in finance are rated on a scale of H, HP, P, and Fail. For Ph.D. students in finance, maintaining an HP average is a requirement to stay in the program for longer than two years. Due to the way this requirement operates, a P in one course may be balanced out by a H in another. Additionally, to graduate from the Graduate School, all students must achieve two or more grades of H.

Admission Requirements- JD-PhD in Finance- GRE not required.

Admission Requirements for JD-PhD in Finance:

• The School of Management's Ph.D. program's admission standards must be met in order for law students to enroll.
• Applicants to the program must be enrolled in the Law School
• For entry, it is normally necessary to have taken undergraduate courses in statistics/econometrics, linear algebra, real analysis, and multivariable calculus.
• It is expected that first-year law students will apply for admission to the Graduate School; however, second-year students are also eligible to do so.

JD-PhD in Finance

• Research Assistantships:  1565
• Teaching Assistantships:  1598

Harvard University

A Finance Master’s Degree Program is offered at Harvard University. The program can aid those working in the financial industry in expanding their knowledge and technical proficiency. Students who decide to pursue this degree frequently have jobs in finance or a similar industry. Core courses can give students a strong foundation in financial concepts, while electives might help them narrow their degree options. The program provides students with the fundamental information and practical abilities they need to assist your firm in managing its finances and investments.

The curriculum comprises 12 courses. There are 11 online courses and students also get on-campus experience. The program can be completed in two to five years with 48 credits. It provides students with the knowledge and abilities they need to further their profession, whether they specialize in mergers and acquisitions, real estate investing, sustainable finance, or monetary policy. Students might even start a new profession in finance or rise into mid- or even senior-level roles with its assistance. The pace of the curriculum is adjustable by design. Part-time education is an option for students, who can select the courses that best suit their schedule and professional aspirations. In the course, learners get to experience both the ease of online learning and the immersive advantages of classroom instruction.

Students expand their understanding of fundamental financial ideas, instruments, and tactics in core finance courses. By concentrating on the particular fields that are most essential to them, such as corporate finance, investments, or financial accounting, they build on that basis through elective training.

Finance Master’s Degree Program: GRE not required.

Finance Master’s Degree Program at Harvard University:

•  A 4-year regionally accredited US bachelor’s degree or its foreign equivalent.
• Students must earn a B or higher in each of the 3-degree courses required for admission and a B– or higher in each of the subsequent courses. 
• Transcripts

Finance Master’s Degree Program

• Research Assistantships:  864
• Teaching Assistantships:  1388

796 universities offer the Master's program in Finance.

Which one best suits your need?

Johns Hopkins University

Master of Science in Finance is a hybrid program that gives students the leadership and quantitative abilities they need to implement change, evaluate data, and have an impact on the long-term viability of organizations all across the world. The CFA Institute's Candidate Body of Knowledge makes up a sizeable amount of the curriculum, preparing candidates to take the CFA examinations. It allows students to finish the program while still meeting their duties in their personal and professional lives. 

The program requires 30 credits comprising 18 required courses and 12 electives to complete in two years. Students learn about the newest developments in financial technology and how to run financial businesses. The program also helps them hone their technical talents to produce novel management and financial solutions in all areas. The program has Asynchronous and/or fully synchronous courses.

Students also gain practical experience through the program. These practical experiences can include internships, consulting projects, or full-time employment. The program has the same curriculum as the 12-month but there is a lighter course load per term. This increases the capacity to attend co-curricular throughout the academic year.

Master of Science in Finance (part-time): GRE not required.

Admission Requirements for Master of Science in Finance (part-time):

• GRE scores are not required.

Master of Science in Finance

• Research Assistantships:  Register to view the details
• Teaching Assistantships:  Register to view the details

Cornell University

The only program of its kind, Cornell-Tsinghua Dual Degree MBA in Finance is a distinctive part-time MBA program provided in conjunction with the PBC School of Finance (PBCSF) at Tsinghua University and is taught in English and Chinese (Mandarin). The dual-degree finance MBA's bilingual approach and class structure set it apart from all other programs on the market and make it the top finance MBA program.

The program requires 60 credits to complete in two years. The curriculum consists of four modules. Deep insights into finance, operations, economics, and management are provided by the core/basic module. Later in the program, students complete elective courses with a strong financial focus as well as modules on innovation and entrepreneurship. A Wall Street walk, a fintech hackathon, a negotiating practicum, and a thesis are all required of all students.

An MBA from Cornell University and an MBA from the PBC School of Finance (PBCSF) at Tsinghua University will be awarded to graduates of the Cornell-Tsinghua Finance MBA program. Fast-rising corporate stars and entrepreneurs may juggle their hectic lifestyles of life, work, and study thanks to this part-time international finance program, which is situated in Beijing.

Admission Requirements- Dual Degree Finance MBA- GRE not required.

Admission Requirements for Dual Degree Finance MBA:

• GRE or GMAT scores are not needed.
• Admission essays
• Two letters of recommendation
• Official academic transcripts

Dual Degree Finance MBA

New york university.

The Master of Science in Global Finance program gives interested professionals the chance to enhance their knowledge and practices under the direction of internationally renowned experts. It is the first executive-style master's degree program in finance in the Asia-Pacific. Participants in the curriculum significantly increase their financial knowledge and gain a thorough awareness of current developments in the international financial markets.

The program offers a rich educational experience that enables learners to benefit from the transition taking place in Asia-Pacific, a transformation so significant that even the balance of financial power in the world has shifted eastward. In the Asia-Pacific area, even non-financial industries like manufacturing and real estate are looking for financial knowledge.

The program is intended for top professionals who aspire to grow in the global finance sector.  Six modules make up the curriculum, and they are held in Shanghai, New York, and Hong Kong.  

Participants can gain cutting-edge finance expertise from world-class teachers and exchange ideas with like-minded people from around the world while juggling their work obligations with fewer than six weeks away from the office needed over the course of a year.

Admission Requirements- Master of Science in Global Finance- GRE not required.

Admission Requirements for Master of Science in Global Finance:

• A bachelor's degree with a strong academic record and GPA; and
• Have at least five years of full-time work experience post-qualification
• After an initial evaluation by the Admission Committee, applicants who haven't proven adequate quantitative skills may be asked to take a second test or submit a GMAT score.

Master of Science in Global Finance

University of illinois urbana-champaign.

Male student in a finance class working on a computer.

At Gies, we deliver a STEM-designated Master of Science in Finance (MSF) degree that thoroughly prepares students for the dynamic world of finance.

Students arrive with different backgrounds and different levels of expertise in finance, so our 15-month program has built-in flexibility to deliver an education and experience that fits your needs.

If you're looking for a career as an investment analyst, business valuation associate, or data analyst, our MSF program will prepare you for these careers as well as the CFA Level 1 exam. Over the past two years, graduates have gone on to work for major corporations such as PwC, Enfusion, Nanhua USA, Bloomberg, Deloitte, and KPMG China. Salaries for MSF alumni three years after graduation average $82,281 (based on 2018 Financial Times data).

Join the ranks of students who have seen their careers take off with their MSF degree.

The MSF program has an innovative three-semester curriculum that provides you with a strong foundation in the principles and practices of finance. The program also introduces you to the emerging concepts, practices, and technologies necessary to be successful in today finance industry.

In addition to the core curriculum, you will select courses to customize your degree.

You can also choose from a broad range of electives in other areas of finance, such as commercial banking, real estate, financial engineering or wealth management.

An optional full semester practicum project allows you the opportunity to work on real-world projects for national and international companies to gain hands-on experience. These projects, paired with cutting-edge courses in big data analytics, high-frequency trading, financial engineering, and valuation will prepare you to excel in the finance industry.

Numerous studies continue to rank the Department as among the most productive of all finance research units in the world.

In the classroom, practice and learning converge to create an active and engaging educational experience which will prepare students for the challenge of modern financial markets.

Gies is ranked #9 in UTD Top 100 Business School Research RankingsTM among North American business schools in research productivity as measured by number of articles published in leading finance journals.

Round out your finance experience with innovative resources and options that will make your educational experience even valuable. The Margolis Market Information Lab is a state-of-the-art lab designed to give you exposure to industry-leading tools like Bloomberg, Capital IQ, Tableau, and . Business case competitions and Illinois Business Consulting (IBC) are two additional ways for students to apply what they learn in the classroom to real-world, client-focused projects.

The program is designed so that you can pursue your desired specialization while also learning the basic necessary financial knowledge.

I joined the program with two years of experience in audit in EY. After the program, I joined Morgan Stanley as a risk management associate. The program is well designed.

Nearly all graduate-level master degrees in finance are master of science degrees, given the focus of the degree on STEM-related fields.

Yes, this degree can open many doors for your future career. Over the past two years, Gies MSF graduates have gone on to work for major corporations such as PwC, Enfusion, Nanhua USA, Bloomberg, Deloitte, and KPMG China. 94% of 2021 graduates found successful outcomes within six months of graduation.

Because both degrees provide many opportunities for your career and your professional improvement, it best to choose your degree path based on your needs and what you want to do. At Gies, our iMBA can prepare you for a variety of roles through its focus on leadership and innovation, and the program takes an average of five semesters to complete. Our MSF program can help you specifically target a career as an investment analyst, business valuation associate, or data analyst, and the program will take three semesters to complete.

The MSF degree is STEM-designated, which may allow international students to remain in the US for up to 36 months on the Optional Practical Training STEM extension. Our commitment to a leading-edge curriculum in data analytics, financial modeling, and financial technology secured this important designation.

Gies On-campus MS in Business Analytics (MSBA) Information Session.

Gies On-campus MS in Technology Management (MSTM) Information Session.

Gies Residential On-campus MS in Management (MSM) Information Session.

Admission Requirements - M.B.A. in Finance - GRE not required.

Admission Requirements for M.B.A. in Finance:

• No GRE scores are needed.
• Official bachelor’s degree transcripts with a 3.0 GPA or higher
• At least 15 hours of upper-level undergraduate coursework in business, or BMAL 590 course with a graduate GPA of 3.0

Masters in Finance

Stony brook university.

The Master of Science in Finance program is offered by the College of Business, Stony Brook University. It is a small, highly selective program that is tailored to finance professionals looking to develop their careers as well as individuals from other academic fields looking to increase their knowledge of finance. Graduates of this program can establish strong careers in banking, hedge funds, corporate finance, and regulation. 

The College of Business' top finance faculty teaches each of the required 30 credits (10 classes) that qualified students must take in the finance discipline. Students must work with partner businesses to create a project centered on the finance industry as part of the program's capstone experience class. This prerequisite combines the student's learning into a single project that shows the student has met the learning objectives of the program. In just two semesters , a full-time student can finish the program. While doing so is feasible, it is advised that students sit down with an advisor to discuss their timetable. Some learning outcomes of the master's program are:

• A wide range of financial concepts will be thoroughly understood by the students.
• Students exchange financial details. 
• To examine and resolve financial issues, students use their financial expertise.

Admission Requirements- MS in Finance- GRE optional

Admission Requirements for MS in Finance:

• The GMAT/GRE is optional.  Applicants who have below a 3.2 cumulative undergraduate GPA are strongly encouraged to submit exam scores to strengthen their application.
• Personal statement

University of Utah

The Master of Science in Finance program is offered at the University of Utah. The MSF curriculum is based on real-world experience and is industry-driven. Students who enroll in one of the many advanced finance courses, including CFA preparation, financial modeling, Bloomberg technology, and data analytics, get in-demand abilities that can be used right away in the workplace. Additionally, there are several possibilities for MSF students to network with financial leaders.

Both in-person and online classes are provided. The curriculum can be completed wholly online or on campus, or students can switch between modes as needed to fit their schedules and needs. Students can work toward their MSF either full- or part-time. In three semesters or 12 months , full-time students graduate, while part-time students need four or more semesters or 15 months to complete their studies. Students can simply switch between full-time and part-time schedules if circumstances change. There are 30 total credits in the MSF curriculum. There are 15 core credits and 15 elective credits in total among these credits. 

The curriculum was created to be adaptable and career-friendly; therefore, classes are available online, throughout the day, and in the evening. In order to allow students to continue working full-time employment, all compulsory classes are available online and in the evening. The core curriculum lays a solid financial foundation. Elective courses let students specialize in their course of study and build on this foundation.

Admission Requirements - Master of Science in Finance - GRE not required.

Admission Requirements for Master of Science in Finance:

• No GRE scores are required.
• A four-year bachelor’s degree from a regionally accredited institution. 
• Applicants must have earned a minimum of a 3.0 cumulative GPA in their undergraduate degree.
• Video Essay
• Professional Resume
• Short essays

University of Massachusetts-Lowell

Master of Science in Finance is offered at the University of Massachusetts-Lowell. The hybrid program can be pursued both full-time and part-time. The program equips students for employment in corporate finance and financial management and gives them a deeper grasp of how financial markets function.

Ten courses totaling thirty credits make up the MSF curriculum: five obligatory courses in finance and five electives, two of which should be in finance. The program can be completed in a year.

The Manning School of Business offers its courses in an expedited 8-week schedule. The program is accredited by the Association to Advance Collegiate Schools of Business (AACSB).

Admission Requirements: Master of Science in Finance: GRE not required.

• Official transcripts
• A minimum overall GPA of 3.000 is required.
• Pre-requisite courses: Financial Accounting, Business Financial Analysis, and Microeconomics.

What kind of scholarships are available for Graduate Programs in Finance?

We have 18 scholarships awarding up to $78,475 for Masters program in for Finance, targeting diverse candidates and not restricted to state or school-based programs.

Find scholarships and financial aid for Finance graduate programs

Why do some finance master’s programs not require the GRE?

While most universities ask for test scores including GRE or GMAT for admission to the master’s in finance program, there are a handful of universities including the University of Utah, and Maryville University of Saint Louis among others that don't need GRE scores. The scrapping of the GRE requirement can be attributed to a variety of reasons. 

For a long time, there was a debate going around that scoring low on the GRE limits the chances of students to get admission to their dream universities even when they fulfill all other admission requirements well. Further, GRE preparation involves a good deal of financial investment which cannot be afforded by all applicants. Therefore, many universities have waived GRE requirements to offer a more equitable environment to students. These universities have started to pay more focus on other admission requirements including GPAs, letters of recommendation, personal statements, and resumes among others.

What are the admission requirements for "No GRE" finance master’s programs?

There are many universities that offer master’s in finance programs without GRE or GMAT requirements. However, students are expected to fulfill other admission requirements and make their profiles stand out from others. 

A personal statement is a significant document through which a student can express their intent, aspirations, and expectations of the program they are applying for.  For admission to the M.S. in Quantitative Financial Economics (MQFE) program at Duke University , students need to provide personal statements. Many universities also ask students to submit essays or interviews.

Recommendations play a crucial role in the admission decision. Universities ask for recommendations from professional or academic sources and sometimes from both. Personal recommendations are not accepted. A resume is helpful for students to reflect on their experience, achievements, and interests that set their profile unique and distinct from others. The MS in Finance program at Vanderbilt University requires its applicants to give information to two recommenders who can assess the applicant's personality, capacity to perform in a top MS Finance program, and chance of success in management and leadership positions.

How much will it cost to get a master’s degree No GRE finance master’s program?

 The cost of pursuing a no GRE master’s degree in finance varies from university to university. The credit requirement, duration, and program structure play a crucial role in determining the cost of the program.

 For example, the Master of Science in Finance at Johns Hopkins University is a hybrid, no GRE program that requires 30 credits comprising 18 required courses and 12 electives to complete in two years. The program has a tuition of $54000. Another no GRE program, the Master of Science in Finance (MSF) online program is offered at Georgetown University. The program has a cost of $53,591. 

Are there other standardized tests that might be accepted in place of the GRE for finance master’s programs?

Most universities provide their applicants with the option to either submit the GRE or GMAT score for admission to the master in finance program. However, there are certain universities that only accept GMAT scores for admission to finance graduate programs. 

Is it recommended to send GRE scores for the GRE optional finance master’s program?

It is at the student’s own discretion to send GRE scores if the university has made it optional. While most universities welcome GRE scores even when they are optional, there are many universities that don't consider the test scores at all in case of them being optional. 

However, there is no harm in sending GRE scores in case you have taken the exam even when the requirement says optional. A good GRE score can often compensate for an otherwise average profile and help students to have an edge over other students. 

How long does it take to complete a Master’s degree for a No GRE finance Master’s program?

The duration of a master’s degree in finance depends on the credit requirement and university. However, most universities offer master's in accounting programs that can be completed in two to three years. In some cases, students also complete the master’s program in less than a year. Some examples of master's in finance programs with their duration are as follows: 

• Washington University 's Olin Business School offers an MS in Quantitative Finance program. The program comprises 39 credits. The required are 34.5 credits and electives account for 4.5 credits including experiential learning course and programming elective requirement. It can be completed in as little as 18 months.
• Vanderbilt University ’s 33-credit Master of Science in finance program allows students to get a strong foundation in finance with an accelerated core curriculum. The program can be completed in 10 months.

Are these Universities who have waived off GRE or do not require GRE for a Masters program in Finance accredited?

CollegeHippo lists only accredited universities. So, all the universities that we have listed are accredited universities that don’t require GRE as their admission requirement.

Finance is a significant domain with respect to business discipline. A rigorous curriculum for a master's in finance degree teaches students the quantitative asset management, risk management, and fixed-income analytics they need to use across a variety of fields. Many colleges provide the course in a variety of delivery methods, including on-campus, online, and hybrid. By making use of these resources and chances for supervised independent study, students can contribute to the understanding of financial markets and institutions, which opens the door to lucrative research employment. Full-time employment or internships are options for people who want to get relevant experience.Many esteemed universities including the Ivy League offer doctoral and master’s programs in finance. University of Pennsylvania's Wharton Business School offers a Ph.D. program in Finance program. Students are expected to complete 18 credits in 5 years as a part of the program. Master of Science in Finance at Johns Hopkins University is a hybrid program that requires 30 credits comprising 18 required courses and 12 electives to complete in two years.

There are 206 schools offering graduate degrees in Finance. Johns Hopkins University had highest number of international students receiving a Master's degree. Johns Hopkins University had the most women graduates in this program.

Are there any Online Masters programs that don’t require GRE/GMAT for Masters program in Finance?

Quite a good number of Online Masters programs don’t require GRE scores for admission.

Online master's degree programs in finance are widely available from reputable universities. Because they may be done at any time online, these courses are especially beneficial for individuals who are working. Some of these courses allow for self-paced study and can be finished more quickly. The master's in finance curriculum focuses a heavy emphasis on the actual application of marketing and management ideas while also providing students with essential knowledge and skills. The master's degree curriculum is created to equip students with the skills they will need for future professional work.The Master of Science in Finance (MSF) online program is offered at Georgetown University. The top-notch MSF curriculum is offered in both full-time and part-time formats over a 21-month standard track or a 10-month full-time accelerated track. The curriculum demands students complete 32 credits including six core courses, two advanced courses, and a minimum of two elective courses, among others. Another program, Master of Science in Finance (MSF) is offered by the University of Southern California. The program can be completed with 30 to 36 credits in 16 months.

Online Master's degree in Finance is offered by 87 US universities. The tuition for the Master's degree can range from $10,000 per year at Florida International University to $68,160 at Columbia University in the City of New York.

How affordable are the No GRE schools in Finance?

The cost of the program does not change because GRE is waived.

Many reputable institutions and colleges offer master's degrees in finance. Because master's degrees in finance are highly competitive, students are advised to work on their applications with great GPAs, transcripts, letters of recommendation, resumes, and personal statements among other things. Many colleges also require GRE or GMAT scores for admission. However, a large number of universities have waived the GRE requirement. For instance, the Finance Division of Columbia Business School offers a master's degree program in financial economics that is STEM-eligible. Students can submit either GRE or GMAT scores. University of Pennsylvania's Wharton School offers a Ph.D. program in Finance. The Wharton Doctoral Program requires all applicants to take and provide scores for either the Graduate Management Admissions Test (GMAT) or the Graduate Record Examination (GRE).

No GRE schools for Master’s program in Finance . If you are looking for affordable online programs, you can find them here Cheapest Online Masters Program in Finance .

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Ph.D. in Finance

An international reputation for academic excellence.

Finance faculty at Boston College are experts in their disciplines and globally acclaimed for their scholarship, research, and mentorship. In our collegial environment, students typically collaborate with one another and with faculty to produce groundbreaking research.

The academic program begins with systematic, rigorous training in quantitative methods, economics, and finance. In addition, students complete a major research project, serve as research and teaching assistants, and write a doctoral dissertation.

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Doctoral students in finance at Boston College complete a program of study that leads to competency in three areas: quantitative methods, economics, and finance. The program begins with course work in quantitative methods, economics, and finance. In the third year, students complete a major research project designed to develop their ability to do original research. Through hands-on experience as teaching assistants, students gain important pedagogical experience. Finally, each student completes a doctoral dissertation that contributes substantial, original work to the field of finance.

Students must complete a program of study that leads to competency in three areas: quantitative methods, economics and finance. The requirements of the program of study are typically satisfied by completing 14 courses in the first two years in the program. In some cases, course work prior to entering the program or successful performance on waiver examinations may be substituted for required courses. However, each student must complete a minimum of 12 courses while in the Program.

Comprehensive Examination

Satisfactory performance on a comprehensive examination marks the student’s transition from course work to full-time thesis research. The examination is intended to allow the student to demonstrate substantial knowledge of the literature and theory of finance and economics and competence in the area of quantitative methods. The examination consists of two steps.

• Step 1: Students take an exam at the end of the second year in the program (late May). The exam covers all Finance Ph.D. classes taken during the first and the second year in the program. Whereas some of the questions will be specific and will test a particular topic, other questions will focus on broader understanding of the literature. Each student will be notified on their exam performance, immediately after it has been graded. There will be no second attempt to take the exam. If a student fails the exam, the only way to get admitted into “Ph.D. candidacy” would be to perform exceptionally well in Step 2.
• Step 2: Students submit independent research proposals by the end of the summer of the second year in the program (late August) to their faculty advisors. Students present research papers at the end of the third Fall semester (early December). Ph.D. committee members will attend the presentation and will jointly evaluate the proposal. Students will be evaluated based on their performance in the exam (step 1)  and  the quality of research paper presentation (step 2).

Doctoral students are expected to engage early in research. The culmination of the program is the doctoral dissertation, a substantial, significant, and original contribution to the field that is prepared under the guidance of a thesis committee of three or more faculty members. When the research is complete, students present a thesis-defense seminar that is open to the Boston College community.

Research and Teaching Assistant Requirement

Doctoral students at the Carroll School are expected to serve as research assistants, teaching assistants, and/or instructors throughout their studies. Students work for a set number of hours per week, throughout the duration of their Ph.D. programs. In exchange, the Carroll School provides financial support for doctoral students in the form of a stipend and tuition remission.

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Course Descriptions

The Ph.D. Program in Finance at the Carroll School attracts applicants from all over the world and from a wide array of backgrounds. While notable for the diversity of their individual achievements, our students typically share a track record of leadership, a strong commitment to research and teaching, and a desire to make a difference in the world.

Note: The following information reflects data for the entering classes of 2019–2023. Updated September 25, 2023.

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Our students and recent graduates are also prolific scholars and writers, publishing regularly in top economic and finance journals such as the American Economic Review, Journal of Finance, Journal of Financial Economics, Review of Financial Studies, and the Journal of Financial and Quantitative Analysis.

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Ph.D. Admission FAQ

Application link & deadlines.

Application Deadline:  The deadline to apply for Fall 2024 is January 9, 2024.

Application Fee: All applicants are required to pay a nonrefundable application fee of $100 USD.

Interviews: If selected, applicants will be invited to interview in early spring.

Admission Decisions: Applications are generally reviewed after the final deadline has passed. There is no specific decision notification date for Ph.D. programs. Final decisions are typically available by mid-spring.

CV and Resume

Your current curriculum vitae should include your education, research, and professional information.

We also require  a separate Employment History, using the form provided within the online application.

Recommendations

Recommendations from two individuals who can provide an objective appraisal of your capacity for intensive graduate study and potential for professional success.

Transcripts

All applicants must possess a four-year bachelor’s degree from an accredited college or university. You must submit transcripts from every institution where you were enrolled in a degree-granting program. At the time of application, only a self-reported transcript is required but if you are admitted, we will require an official transcript sent directly from your degree-granting institution. Transcripts should include:

Course names

All grades received (including transfer credits and study abroad programs)

Cumulative GPA

Degree conferral information

Graduates of non-U.S. institutions must possess a college or university degree equivalent to a four-year U.S. bachelor’s degree. If admitted, international students are required to submit an official English translation of all academic credentials, along with a third-party degree verification from an agency such as  SpanTran or  World Education Services (WES) .

GMAT or GRE Scores

Applicants must submit GMAT or GRE scores from within the past five years. We accept both the GMAT Exam and GMAT Focus Edition. Our test codes are:

• GMAT school code: 44x-J5-96
• GRE school code: 3033

While Graduate Admissions does not have a preference between the GMAT or GRE, we encourage you to consult class profile data for average test scores in order to gauge where you stand.

English Proficiency

If you are not a U.S. citizen or permanent resident, you are required to submit an English language proficiency exam score with your application. We accept TOEFL, IELTS, or PTE scores. We do not accept the Duolingo English Test.

Scores must be from within the past two years, and applicants must meet the following minimum scores:

TOEFL, iBT, and TOEFL iBT Home Edition: 100

You are eligible to waive the language test requirement if you meet either of the following criteria:

You have completed a four-year bachelor’s degree or a two-year master’s degree (or higher) at an institution where the medium language of instruction is English. You must have completed your degree in its entirety at the English-medium institution. The medium language of instruction must be indicated on your transcript or verified in an official letter from the institution.

You have worked in a full-time, post-degree position for at least two years in the United States or a country where English is an official language. NOTE: Working for a company that conducts its business in English in a country where English is not an official language will not qualify you for a language test waiver. 

If you are eligible to waive the language test requirement, you do not need to submit a waiver request beforehand and can simply move forward with your application.

Required & Optional Essays

Applicants must submit a required essay discussing their research interests and career objectives. You may also submit an optional essay that addresses aspects of your candidacy that have not already been covered in other parts of the application.

If you have any further questions, please email us at bcmba@bc.edu , or schedule a phone call or Zoom appointment with a member of the Graduate Admission team.

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PhD test requirements

The Graduate Management Admissions Test (GMAT) and the Graduate Record Examination (GRE) are computer-based standardized assessments delivered in English that serve as uniform standards of measurement for applicants. The GMAT and the GRE are acceptable tests for applicants to the PhD in Business Administration program with a specialization in finance. Applicants’ scores should be very competitive regardless of whether the GMAT or the GRE is taken.

GMAT information

The GMAT is a computer-adaptive test that measures general verbal, mathematical and analytical writing skills. The average GMAT score of students in the finance doctoral program is approximately 700. The more competitive students have scores from 650 to 770, and the Department of Finance PhD admissions committee prefers GMAT scores of 650 or higher.

Learn more about how to prepare for the GMAT and how to register for a test date and location. You may want to check your local area for additional test preparation resources.

ASU's GMAT institutional code is 0GZ-1R-80.

GRE Information

The Graduate Record Exam (GRE) measures verbal and quantitative reasoning, critical thinking and analytical writing skills. GRE scores range from 200 to 800. The analytical writing component ranges from 0 to 6.

Learn more about the GRE and how to register for the test date and location.

ASU's GRE Institutional Code is 4007. The department code for the GRE is 000.

Score submission

In the online application you will be asked to report both the score number and percentile obtained for the verbal, quantitative and analytical sections of the GMAT/GRE. The official test scores, however, must be reported directly by the testing organizations to the ASU Graduate College.

GMAT and GRE preparation classes

Help put your best foot forward on your application — ASU Graduate Education offers GMAT and GRE preparation classes .

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PhD Admission Requirements

The goal of the Accounting PhD program is to train students to do rigorous research in accounting, a specialized area of financial economics. An institutional understanding of how accounting information is used by capital market participants and/or within firms is useful and best obtained through relevant work experience, but is not required. The program is highly analytical and quantitative. Thus, a strong undergraduate preparation in microeconomics and mathematics is an advantage, as is some prior training at the undergraduate or graduate level in accounting, finance, or economics.

Except for the GMAT or GRE general test which is required of all applicants, there are no formal admission requirements. The TOEFL test must be taken by applicants whose native language is not English.

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The 10 Best PhD Programs in Finance

In essence, finance is the study of economics and the claims on resources. The best PhD programs in finance help you develop professionally so you can make difficult decisions around fund allocation, financial planning, and corporate financial management. This qualification will also equip you for a career in teaching or research at top universities.

Which of the 10 best finance PhDs is best for you?

Read on to learn everything you need to know.

Table of Contents

Why Get a Doctorate in Finance?

According to the Bureau of Labor Statistics (BLS), finance managerial professionals have an average salary of $131,710  per year, and jobs are estimated to grow by 17%  from 2020 to 2030. This is much more than the average across all occupations. With a PhD in finance, you may work as a finance manager or even become a CEO of a large corporation.

Jobs and Salaries for Doctors of Finance

After earning a PhD in finance, you can find well-paid jobs as a professor or in various corporate finance roles.

Here are some of the most common finance professions with the average annual salaries for each:

• Financial Manager ( $96,255 )
• Financial Analyst ( $63,295 )
• Finance Professor ( $73,776 )
• Chief Financial Officer ( $140,694 )
• Investment Analyst ( $67,730 )

Read More:   The Highest Paying PhD Programs

What’s the average cost of a phd program in finance.

The tuition for a PhD in finance can vary depending on the university, with public institutions generally being much more affordable than private ones.

Across all schools, the average tuition is around $30,000 per year.

However, on top of this, you need to factor in other expenses, which could add up to another $30,000 a year. Some top universities offer full funding, including tuition and a stipend for all students who are successfully admitted to the program.

Read Next: The Average Cost of a Master’s Degree in Finance

Top finance phd programs and schools, stanford university, graduate school of business.

PhD in Finance

Stanford University is one of the most prestigious business schools in the world. Its PhD in finance programs has an emphasis on theoretical modeling and empirical testing of financial and economic principles.

• Courses include: Financial markets, empirical asset pricing, macroeconomics, and financial markets.
• Duration: 5 years
• Tuition : Full funding
• Financial aid: Research & teaching assistantship, grants, outside employment, and outside support.
• Delivery: On-campus
• Acceptance rate: 5%
• Location: Stanford, California

The University of Pennsylvania, The Wharton School

The University of Pennsylvania’s renowned Wharton School of Business is home to faculty who are well-known in the field of business research. The school boasts a low student-faculty ratio in an atmosphere that allows you to work with faculty members as peers. This doctor of finance program emphasizes subjects like asset pricing, corporate finance, and portfolio management. This helps students become experts in research and teaching in these areas.

• Courses include: Topics in asset pricing, financial economics, and international finance.
• Credits: 18 courses
• Financial aid: Fellowships, grants, student employment, health insurance, stipend, and loans.
• Acceptance rate: 9%
• Location: Philadelphia, Pennsylvania

The University of Chicago, Booth School of Business

Booth School of Business is a major center for finance education because its faculty includes Eugene F. Fama, Nobel laureate and the father of modern empirical finance. This finance doctoral degree has an option for a joint PhD in collaboration with the university’s economics department.

• Courses: Financial economics, financial markets in the macroeconomy, and behavioral finance.
• Tuition : Refer tuition page
• Financial aid: Grants, stipends, health insurance, scholarships, fellowships, teaching assistantships, research assistantships, and loans.
• Acceptance rate: 7%
• Location: Chicago, Illinois

The University of Illinois at Urbana-Champaign, Gies College of Business

The University of Illinois at Urbana Champaign is one of the best places for studying and conducting research in finance. Its finance research faculty was ranked #4  in the UTD Top 100 Business School Research Rankings between 2016-2019. In this PhD in finance program, students can take the qualifying examination at the end of the first year and, if successful. They’ll be able to start their research project earlier and complete the degree sooner.

• Courses include: Empirical analysis in finance, corporate finance, and statistics & probability.
• Duration: 4-5 years
• Financial aid: Full tuition waiver, stipends, scholarships, grants, student employment, and loans.
• Acceptance rate: 63%
• Location: Champaign, Illinois

Massachusetts Institute of Technology, Sloan School of Management

The Sloan School is one of the top research centers in the world, which aims to transform students into experts who can handle real-world problems in a wide range of spheres, from business and healthcare to climate change. This PhD program in finance gives students the flexibility to choose between a wide range of electives and even study some courses at Harvard.

• Courses include: Current research in financial economics, statistics/applied econometrics, and corporate finance.
• Duration: 6 years
• Financial aid: Full tuition, stipend, teaching assistantships, research assistantships, health insurance, fellowships, scholarships, and loans.
• Location: Cambridge, Massachusetts

Northwestern University, Kellogg School of Management

The Kellogg School of Management allows students to conduct independent research under the supervision of faculty who’ve made significant contributions to the field and have earned numerous prestigious awards. This doctorate of finance program’s admission process has a dual application option. You can also apply to the Economics PhD simultaneously, so if you are not selected for the finance program, you may be considered for economics.

• Courses include: Econometrics, corporate finance, and asset pricing.
• Duration: 5.5 years
• Financial aid: Tuition scholarship, stipends, health insurance, moving allowance, and subsidies.
• Location: Evanston, Illinois

The University of California Berkeley, Haas School of Business

The Haas School of Business in Berkeley is an innovative institution that questions the status quo, takes intelligent risks, and accepts sensible failures in its path to progress. This finance PhD program offers students opportunities to learn about cutting-edge research from faculty from around the world.

• Courses include: Corporate finance theory, stochastic calculus, and applications of psychology & economics.
• Tuition : Refer cost page
• Financial aid: Fellowships, grants, tuition allowance, stipends, teaching assistantships, and research assistantships.
• Acceptance rate: 17%
• Location: Berkeley, California

The University of Texas at San Antonio, Alvarez College of Business

The Alvarez College of Business is one of the forty largest business schools in the USA. It follows a comprehensive and practical approach to education that allows students to apply the knowledge they gain directly in the workplace. This PhD in finance encourages students to do collaborative research with the faculty, which helps them publish their own academic papers before they even complete the program.

• Courses include: Corporate finance, international financial markets, and microeconomic theory.
• Credits: 84 (post-bachelors)
• Financial aid: Scholarships, grants, work-study, teaching assistantships, research assistantships, research fellowships, and loans.
• Acceptance rate: 84%
• Location: San Antonio, Texas

Liberty University, School of Business

Doctor of Business Administration (DBA) in Finance

Liberty University is a non-profit institution among the top five online schools in the USA and has been offering fixed tuition fees for the past seven years. This is one of the best PhD in Finance programs you can do completely online. It aims to prepare students to address issues in business finance through research, best practices, and relevant literature.

• Courses: Managerial Finance, Investments & Derivatives, Business Valuation, etc.
• Credits: 60
• Duration: 3 years average
• Tuition : $595 per credit
• Financial aid: Grants, scholarships, work-study, veteran benefits, and loans.
• Delivery: Online
• Acceptance rate: 50%
• Location: Lynchburg, Virginia

Northcentral University

PhD in Business Administration (PhD-BA) – Finance Management

Northcentral University was founded with the objective of offering flexible, fully-online programs to working professionals around the world. This doctorate degree in finance online is flexible and allows you to design your own schedule. You will also get one-on-one personal mentoring from qualified faculty.

• Courses include: Business financial systems, business statistics, and business leadership & strategy.
• Duration: 84 months average
• Tuition: $1,105 per credit
• Financial aid: Grants, scholarships, and military scholarships.
• Acceptance rate: NA
• Location: Scottsdale, Arizona

Things To Consider When Choosing a Finance PhD Program

The right PhD program for you is a very personal decision and will depend on several individual factors.

However, these general questions will help you to make the right choice:

• Is the university properly accredited?
• Does the university conduct innovative and cutting-edge research?
• Are there renowned faculty members who you’ll want to work with?
• Do they offer subjects or specializations that match your career goals?
• What is the school’s placement history?
• What are the tuition fees, costs, and options for scholarships and financial aid?
• Does the program offer online study options?

It’s also important to consider if you want to pursue a career in academia or work in organizations as a senior finance professional. A PhD degree will generally set you up for a career in research or academia, while a DBA is more suited to a career in business or government.

Preparing for a Finance Doctorate Program

It’s important to start preparing early if you want to be selected for one of the best finance PhD programs.

These handy tips can help you put your best foot forward:

• Research the requirements of the best universities offering PhD in finance degrees, including pre-requisite subjects and qualifying grades. Keep these in mind when completing your bachelor’s or master’s degree.
• Understand your strengths and weaknesses in relation to the program’s requirements. Work on your weaknesses and continue to hone relevant skills.
• Read extensively in the field and keep up-to-date on regional and global developments.
• Join communities of finance professionals to build your network and be exposed to the latest knowledge in the discipline.

Skills You Gain from Earning a PhD in Finance

The most important skills you learn as a doctor of finance include:

• Communication skills, including writing and presentation skills
• Data analytical skills
• Economics and accounting skills
• Critical thinking skills
• Mathematical skills
• Analytical software skills
• Management and leadership skills
• Problem-solving skills

PhD Programs in Finance FAQs

How long does a phd in finance take.

PhD programs in finance usually take between three and eight years to complete.

Is It Worth Getting a PhD in Finance?

A PhD in Finance is a qualification that’s in high demand today. It is a terminal degree and can help you get top-level jobs with lucrative salaries in corporate or large organizations.

How Much Can You Make With a PhD in Finance?

With a finance doctorate, you can expect to earn a salary anywhere from around $45,000 to $150,000, depending on your experience, role, and the organization you work for. According to the BLS, the average salary for finance PhD holders is $131,710 .

What Do You Need To Get a PhD in Finance?

The admissions requirements vary depending on the program, but you’ll typically need a bachelor’s or master’s degree in finance. The programs can take three to eight years of coursework and research.

To apply, you’ll usually need to submit:

• Application
• Academic resume
• Academic transcripts
• Recommendation letters
• GRE or GMAT score
• Personal essay

Final Thoughts

With a doctorate in finance, you can build a rewarding career in academia, research, or the business sector. Like any doctorate, these programs ask for dedication and hard work. By planning early, you’ll set yourself up to pursue one of the best PhD programs in finance.

For more on how to build your career in the field, take a look at our guides to the best master’s degree in finance , the highest paying PhDs , and fully-funded PhD programs .

Lisa Marlin

Lisa is a full-time writer specializing in career advice, further education, and personal development. She works from all over the world, and when not writing you'll find her hiking, practicing yoga, or enjoying a glass of Malbec.

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PhD in USA Without GRE: Top Universities, Deadlines, Admission Process

Veda Burman

| Updated On - May 25, 2024

USA Admissions 2024, Latest Alerts

• 15 June, 2024 : Planning To Study Abroad? Don't Miss This Chance - 100% Application and Visa Scholarship Inside; Register Here
• Upcoming Deadlines: Application deadlines for PhD in USA without GRE are mostly between October and December 2024.
• Top Universities: A range of top US institutions like MIT, Northwestern University, Purdue University and others are offering GRE waiver or test optional admission to PhD programs.

Unaffected Employment Opportunities: PhD in USA without GRE is not related with job opportunities. After a PhD in USA without GRE, graduates secure high paying jobs with an average salary of 107,000 USD (89.06 lakhs INR) per annum.

PhD in USA is now available without a GRE score as a 3-6 years full time program in several institutes. Prospective students can demonstrate academic excellence and satisfactory supplementary documents for admission to US universities without GRE for PhD. International students planning to apply to PhD in USA without GRE score ideally require a GPA of 3.0 out of 4.0 (85%) in masters level. Universities in USA for PhD without GRE require the following supporting documents as a part of application:

• TOEFL iBT - 80 or above
• IELTS - 6.5 or above
• Essay explaining research work done
• Relevant professional experience

Top Universities for PhD in USA Without GRE

Currently, USA is home to a plethora of institutes offering PhD waiver, including top universities like MIT and Northwestern University. The top universities in USA without GRE for PhD or optional GRE requirement are as follows:

Some other universities offering PhD programs without GRE in USA are:

• Walden University
• California Southern University
• Smith College
• Philadelphia College of Osteopathic Medicine
• Andrews University
• Sacred Heart University

How To Apply For PhD in USA Without GRE

USA hosts a range of universities offering PhD without a GRE score. Some universities in USA offer test optional admission to international students. The significant factors to remember while applying for a USA PhD without GRE are:

• Look for universities that have completely waived off GRE requirements for admission into a PhD program.
• Try to strengthen your application profile by mentioning work experience, previous research work, letter of recommendation , where GRE is an optional requirement.
• You can consider applying for PhD in part-time or online mode, as a majority of these courses do not consider GRE as a mandatory requirement. However, on-campus programs are recommended over online programs, even while looking for PhD program in USA without GRE.

Eligibility Criteria for PhD in USA Without GRE

The admission requirements for a PhD in USA may vary across universities. While most of the university may consider applications with GRE scores, there are universities that either opted out of GRE requirements or offering waiver options on certain conditions. The general eligibility criteria and supporting document requirements for pursuing a PhD degree in USA without GRE are:

General Admission Requirements:

• Bachelor’s or master’s degree
• An overall GPA of 3.0/4.0 (85%) or above in Bachelor's
• TOEFL iBT - 80-90
• IELTS - 6.5–7.0
• An essay in at least 2000 or more words mentioning the research work done
• 2-3 letters of recommendation
• Statement of purpose
• Work experience

Top 10 Universities for PhD in USA Without GRE

1. massachusetts institute of technology (mit).

Massachusetts Institute of Technology offers PhD programs through the Sloan School of Management and the Center for computer science & engineering. MIT has waived GRE score requirements for several PhD programs in Fall 2024 admissions.

2. Northwestern University

Northwestern University PhD programs are offered in 20 areas of study. An overall GRE score of 320 or above is accepted for admission into a PhD program. However, GRE score submission is optional for various PhD courses in the current admission session.

3. Purdue University

Purdue University PhD programs are offered in engineering, agriculture, management, education, liberal arts, science, and pharmacy. The degrees are offered in the 3 campuses of the university and can be pursued on-site or online mode. Purdue University has opted for GRE as an optional requirement for admission into all the graduate level programs.

4. University of Wisconsin

University of Wisconsin PhD degrees are offered in disciplines like biomedical engineering, anthropology, business, operations management, and computer science. The programs can be pursued in online, on-site, accelerated, weekend and hybrid modes. There is no GRE score required for master's or doctoral programs.

5. Georgetown University

Georgetown University offers PhD degrees through the Graduate School of Arts and Sciences. The PhD programs at Georgetown University are available in applied mathematics, biology, biostatistics, computer science, chemistry, nursing, and philosophy among others. There is no GRE score required for most PhD programs. However, GRE scores can be required for PhD in economics or PhD in Statistics degree.

6. Washington State University

Washington State University offers 63 PhD degrees in agricultural economics, anthropology, biology, biomedical sciences, business administration, computer science, economics, engineering, and more. The GRE scores are not required for admissions to PhD programs, except computer science and economics. Students applying for PhD in business administration may also be required to submit GRE in lieu of GMAT scores .

7. Oregon State University

PhD in Oregon State University is offered across 11 colleges and a graduate school. Completion of a PhD program from Oregon State University allows students to secure jobs in government or research industries. A minimum score of 150 or above is generally required for admission into PhD programs. However, the university has opted out of GRE requirements.

8. University of Oregon

University of Oregon offers PhD degrees in 52 different specializations. No GRE is required for admission into PhD programs, instead the university ask for higher GPA scores, statement of purpose and letters of recommendation.

9. University of Idaho

University of Idaho offers 31 PhD degrees in computer science, education, mechanical engineering, biological engineering, physics, natural sciences, neuroscience, food science and history. The university has completely waved off GRE requirements for admissions to PhD programs.

10. Nova Southeastern University

Nova Southeastern University offers PhD level courses in dental medicine, criminal justice, audiology, health sciences, law, nursing, psychology and more. The admission to PhD in Nova Southeastern is quite competitive, which means admission may not be guaranteed even if all the requirements are met. The University does not require GRE score for PhD admissions.

PhD in USA opens the opportunity of higher level research and teaching for international students. Now, many US universities have opted out of GRE score requirements or waiver options for both PhD and Masters level. Hence, USA is an ideal place for international students intending to pursue PhD courses without a GRE score, based on previous academic and professional achievements.

Ques. What are the top universities for PhD in USA without GRE?

Ans . Some top universities in USA offering PhD without requiring GRE score or requiring GRE as an optional prerequisite are:

• Massachusetts Institute of Technology (MIT)
• Northwestern University
• Purdue University
• University of Wisconsin Madison
• Georgetown University
• Washington State University
• Oregon State University
• University of Oregon
• University of Idaho
• Nova Southeastern University

Ques. Is GRE necessary for PhD in USA?

Ans . No, GRE is a significant requirement for PhD programs in USA, but not all universities require it. International students can secure admission to the US universities even without a GRE score, if the university does not require it. The universities generally expect a minimum GPA of 3.0 out of 4.0 (85%) in previous academic degree for admission to PhD in USA along with competitive English proficiency score and supporting documents.

Ques. Can we do PhD without GRE in the USA?

Ans . Yes. Several US institutes including some top universities in USA like, MIT, Northwestern University, Purdue University among others offer PhD without GRE. For admission to PhD without GRE in USA, you will need to demonstrate the following documents:

• Essay mentioning research work done
• Relevant work experience

Ques. How long is a PhD in USA without GRE?

Ans . A PhD in USA without GRE has the same duration as a common PhD degree. You can estimate to spend between 3-6 years while pursuing a PhD in USA without GRE. However, the duration of your PhD might exceed 6 years in certain conditions.

Ques. Can I directly apply for PhD without GRE and without Masters in USA?

Ans . Yes, several US universities offer admission to PhD without a masters degree. This is because the universities usually award the PhD candidates with a master's degree in the initial days of the doctoral program.

Ques. When shall I apply for PhD in USA without GRE?

Ans . The application deadlines for PhD in USA across the universities offering test-optional admission or GRE waiver are as follows:

GRE score is not required for most PhD programs. However, GRE scores can be required for PhD in Economics or PhD in Statistics degree. GRE requirements are dependent on chosen university and course. 

If the university provides scholarships to PhD students then you can apply for financial aid. In the USA during your PhD, you will get a stipend for your research work. 

Many ranked universities in the USA require prospective students to take the GRE exam for admission in master’s programs. Some prestigious universities such as the University of Florida and the University of Boston offer certain MS programs that do not mandate GRE scores.

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Beyond the MBA: GMAT for PhD Applicants

The GMAT exam can be your first step to a career as a business school professor.

It is common knowledge that many business schools require MBA applicants to submit their GMAT scores as part of their application. However, not many people are aware that taking the GMAT exam can be a stepping-stone into a doctoral program in business schools around the world.

A PhD in Management prepares an individual to become a professor in a business school. Business academics engage in three main activities: research, teaching and academic service. Some professors in business schools also engage in consulting assignments with companies. A career as a business school professor, though challenging, is intellectually stimulating, flexible and financially rewarding. 

However, getting into a doctoral program is not easy. The GMAT score is only one of several admission requirements. Most schools also assess an applicant’s suitability for research by evaluating credentials such as past academic records, statement of purpose and letters of recommendations.

Since a PhD is a commitment of at least 4 to 5 years, applicants need to carefully consider the trade-offs of pursuing a PhD in different schools. Applicants should consider the availability of research resources, which are often provided in research-oriented business schools. For example, in Singapore, NUS Business School provides full funding for doctoral students, which includes a stipend, IT support and conference travel funding. Moreover, along with personal considerations such as relocation and family, applicants should also carefully consider whether a school fits in with their research interests. 

FINANCE PH.D.

Join top minds in finance.

Applications are no longer being accepted for Fall 2024

Your Future in Finance

• Finance Department

APPLICATION DEADLINE

The application deadline for the Finance Doctoral Program is December 15.

***Applications will be accepted until February 15, but cannot guarantee applications submitted/completed after the December 15 deadline will still be considered for admissions.***

Why should you get your Finance PhD at McCombs?

Our faculty are not only intellectual leaders, they are also highly devoted to our PhD students. Faculty frequently co-author with current and former students teaching them the skills to successfully publish and helping jump-start their publishing careers. We hold a weekly PhD research seminar for PhD students where students present their ongoing work to faculty and we discuss prominent avenues for research. We have a strong collaboration with the Economics Department and our program of work  has a strong economics foundation.

Gregory Weitzner, Ph.D. Alumnus

"UT Austin is a fantastic place to do a PhD in Finance. The faculty are extremely nurturing and genuinely care about the PhD program. They challenge you and yet are always approachable. With such a large department, you can find anyone working on something related to what you are interested in. Finally, you can't beat living in Austin."

Kevin Mei, Current Ph.D. Student

"The UT Finance PhD program has been a tremendous launchpad for my academic career. Among its many strengths, the department is especially oriented towards fostering genuine relationships between faculty and students. All faculty, from junior to senior, seem interested in my success. This tight-knit atmosphere makes it easy for PhD students to approach world-class researchers and has helped launch papers for almost all of my cohort. The steady stream of great seminars and conferences has also been an invaluable opportunity for me to connect with many giants of our profession in a warm environment. The combination of this exposure and strong foundational training has made UT an ideal place to start my academic career."  

Eric Vance, Current Ph.D. Student

"The faculty put so much time and effort into the students. They want to see us succeed and have fostered an environment where they are readily available and frequently provide feedback. Their advice made the transition to research easier, and my own work has improved greatly from insights I gathered discussing with them."

Preparation and Qualifications

PREPARATION AND QUALIFICATIONS

The Texas McCombs Finance doctoral program assumes that students have taken advanced courses to establish a reasonable mathematical, statistics, and economics background. Adequate computer programming skills are necessary for coursework.

Prospective applicants are required to hold a four-year bachelor's degree (does not need to be a degree in finance) or equivalent before starting the program.

Please also see our  FAQ page for more information.

Academic Leadership

We have some of the most influential faculty in the profession with important leadership and editorial positions:

Sheridan Titman

Dr. Sheridan Titman

Editor, Review of Financial Studies: 1996-1998 Editor, International Review of Finance: 1999 ± 2004 Editor, Foundations and Trends in Finance: 2013- present Associate Editor, Real Estate Economics: 1986-present Associate Editor, Journal of Real Estate Finance and Economics: 1987-present Associate Editor, Review of Financial Studies: 1987-1990 Associate Editor, Journal of Finance: 1990-2000 Associate Editor, Journal of Housing Economics: 1991-present Associate Editor, Journal of Financial and Quantitative Analysis: 1991-1995 Associate Editor, Pacific Basin Finance Journal: 1991-present Associate Editor, Review of Financial and Quantitative Analysis: 1994-present Associate Editor, Journal of Financial Research: 1996-2000

Officer Positions: Vice President: Western Finance Association: 2004-2005 Program Chair: Western Finance Association: 2005-2006 President: Western Finance Association: 2006-2007 Vice President: American Finance Association 2010 President Elect: American Finance Association 2011 President: American Finance Association 2012 Vice President and Program Chair: American Real Estate and Urban Economics Association 2016 President: American Real Estate and Urban Economics Association 2018

Laura Starks

Dr. Laura Starks

Editorial: Editor, Review of Financial Studies (2008-2014) Editor,FMA Survey and Synthesis Series (2016-present) Advisory Editor, Financial Analysts Journal (2016-present) Advisory Editor, Financial Management (2016-present)  

Officer Positions: President: AFA (American Finance Association), present President: Society of Financial Studies (2017-2020) Vice-President: Society of Financial Studies (2014-2017) President: Western Finance Association (2015-2016) President-elect and Program Chair: Western Finance Association (2014-2016) Vice-President: Western Finance Association (2013-2014) President: Financial Management Association (1999-2000)

John Griffin

Dr. John Griffin

Editorial: Associate Editor, Review of Financial Studies, June 2012-May 2015

Officer Positions: President, Western Finance Association, 2022. Vice President, President-Elect, Western Finance Association, 2020, 2021. Chair, Society of Financial Studies (SFS) Cavalcade, 2013. Vice-Chair, Society of Financial Studies (SFS) Cavalcade, 2012

Clemens Sialm

Dr. Clemens Sialm

Editorial: Review of Financial Studies, Editor, 2023-present Journal of Finance, Associate Editor, 2022-2023 Review of Asset Pricing Studies, Editor, 2022-2023 Journal of Pension Economics and Finance, Editor, 2016-2023 Financial Management, Associate Editor, 2016-2023 Journal of Financial Markets, Associate Editor, 2016-2023 International Review of Finance, Associate Editor, 2014-2023 Review of Financial Studies, Associate Editor, 2010-2013 Management Science, Associate Editor, 2009-2019 Review of Asset Pricing Studies, Associate Editor, 2017-2021

Officer Positions: Chief Executive Officer, Texas McCombs Investment Advisors, 2017-present Vice President, Midwest Finance Association, 2022-present

William Fuchs

Dr. William Fuchs

Editorial: Associate Editor for the American Economic Review 2012 -2014 Associate Editor for the Journal of Mathematical Economics 2019 Associate Editor for the Journal of Economic Theory 2019-current

Officer Positions: President, Finance Theory Group

Robert Parrino

Dr. Robert Parrino

Editorial: Associate Editor, Journal of Corporate Finance, 2001-18 Associate Editor, Journal of Financial Research, 2006-11

Officer Positions: President Elect, Financial Management Association International, effective October 2020 Immediate Past Vice President-Program, Financial Management Association International, 2019-20 Vice President-Program, Financial Management Association International, 2018-19 Vice President-Program Elect, Financial Management Association International, 2017-18

Job Market Candidates

Yingfan linda du, mahyar sefidgaran, recent graduate placements.

Alex Priest - 2023 - University of Rochester

Iman Dolatabadi - 2022 - Cornerstone Research

Tim Park - 2022 - Analysis Group

Jonathan Serrano - 2022 - Brex

David Xiaoyu Xu - 2022 - Southern Methodist University

Lee Seltzer - 2021 - The New York Fed

Jangwoo Lee - 2021 - Chinese University of Hong Kong

Gregory Weitzner - 2020 - McGill University

Xuewei (Erica) Jiang - 2020 - University of Southern California

Garrett Schaller - 2020 - Colorado State University

Shuo Liu - 2019 - City University of Hong Kong

Amin Shams Moorkani - 2019 - Ohio State University

Avishai Schiff - 2019 - Cornerstone Research

Jacelly Cespedes - 2018 - University of Minnesota

Qifei Zhu - 2018 - Nanyang Technological University

Zach Liu - 2017 - University of Houston

Adam Winegar - 2017 - Norwegian Business School

Current PhD Students

Vladimir belykh, tommy brown, lydia zijin fu, john garrett, haojing han, jaeyong lee, seung chul (eric) lee, prateek mahajan, changyong song, steven urry, xinran zhang, yiyuan zhang, william t. zheng, are you ready to change the world.

The Texas McCombs Doctoral Program is seeking individuals who are interested in transforming the global marketplace. Are you one of these future thought leaders?

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The field of finance covers the economics of claims on resources. Financial economists study the valuation of these claims, the markets in which they are traded, and their use by individuals, corporations, and the society at large.

At Stanford GSB, finance faculty and doctoral students study a wide spectrum of financial topics, including the pricing and valuation of assets, the behavior of financial markets, and the structure and financial decision-making of firms and financial intermediaries.

Investigation of issues arising in these areas is pursued both through the development of theoretical models and through the empirical testing of those models. The PhD Program is designed to give students a good understanding of the methods used in theoretical modeling and empirical testing.

Preparation and Qualifications

All students are required to have, or to obtain during their first year, mathematical skills at the level of one year of calculus and one course each in linear algebra and matrix theory, theory of probability, and statistical inference.

Students are expected to have familiarity with programming and data analysis using tools and software such as MATLAB, Stata, R, Python, or Julia, or to correct any deficiencies before enrolling at Stanford.

The PhD program in finance involves a great deal of very hard work, and there is keen competition for admission. For both these reasons, the faculty is selective in offering admission. Prospective applicants must have an aptitude for quantitative work and be at ease in handling formal models. A strong background in economics and college-level mathematics is desirable.

It is particularly important to realize that a PhD in finance is not a higher-level MBA, but an advanced, academically oriented degree in financial economics, with a reflective and analytical, rather than operational, viewpoint.

Faculty in Finance

Anat r. admati, juliane begenau, jonathan b. berk, greg buchak, antonio coppola, peter m. demarzo, darrell duffie, steven grenadier, benjamin hébert, arvind krishnamurthy, hanno lustig, matteo maggiori, paul pfleiderer, joshua d. rauh, claudia robles-garcia, ilya a. strebulaev, vikrant vig, jeffrey zwiebel, emeriti faculty, robert l. joss, george g.c. parker, myron s. scholes, william f. sharpe, kenneth j. singleton, james c. van horne, recent publications in finance, expectations and the neutrality of interest rates, real effects of supplying safe private money, how credit cycles across a financial crisis, recent insights by stanford business, your summer 2024 podcast playlist, why the “venture mindset” is not just for tech investors, how to: reject pitches like a venture capitalist.

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Application deadline

An application can be submitted even if the graduate studies (MSc or MBA) are still in progress. Candidates receiving an offer will be admitted conditionally upon providing their completed graduate degree and transcript before the beginning of their PhD, at the end of August.

Check our  academic calendar for more information.

Eligibility criteria

• Hold a Master of Science (MSc), a Master of Business Administration (MBA), a graduate degree in a related field or a degree deemed equivalent by the program administration, with an average deemed excellent by the School.
• TAGE MAGE (a minimum score is required: 283; for information purposes, note that the average score of applicants recently admitted to the program is 336)
• GMAT (no minimum overall score required; for information purposes, note that the average score of applicants recently admitted to the program is 690)
• GRE (no minimum overall score required; for information purposes, note that the average score of applicants recently admitted to the program is a 690 on the GMAT)

Language requirements

• Advanced proficiency in French or English.

For example, you must have completed 3 years (90 credits) of university studies entirely in French or English or have passed an accredited language test ( TFI : 850 or TOEFL : a score of at least 100).

Supporting documents

For the supporting documents, see the steps for preparing an application.

Certain programs at HEC Montréal have a limited number of places available. For these programs, the School cannot guarantee that all eligible applicants will be admitted.

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Top 5 online phd programs without the gre requirement.

Earning a Ph.D. or doctoral degree is often a good career choice for professionals in many fields. Research indicates that earning a doctorate can provide one with many excellent benefits.

For example, many Ph.D. holders earn more over their lifetimes than the typical person with only a master’s degree. This statement is confirmed by a study from the US Census Bureau. It found that for all of the disciplines studied, the increase in salary with a Ph.D. ranged from 7% to 33% more.

The data indicated that higher salaries with a Ph.D. were especially common in the science and math fields, as well as industrial research and development.

Those who are considering their Ph.D. could be making a very good financial decision over the long run. Fortunately, there are more online Ph.D. programs available today than ever before.

Getting your Ph.D. is often more convenient and affordable than you might think at first. And many of them no longer require the student to take the GRE to be considered for admission. Or, the program may offer a GRE waiver for students with a certain GPA and/or a high level of work experience.

Recommended online Ph.D. and doctoral programs without a GRE requirement are:

#1 Temple University

– Executive Doctor of Business Administration (DBA)

The Executive Doctor of Business Administration at Temple University is a partially online doctoral program made for business professionals with many years of managerial business experience, who want to transform their business practice. Most students are current, senior managers who want to advance their business careers by learning new skills to solve tough business problems. The majority of graduates intend to advance in their company to a senior level executive position, such as CEO or COO.

Students in this three year, part time, online program investigate applied business research problems. For example, you may study how customers react to new pricing structures, or how effective a new social media strategy is.

The curriculum emphasis is upon general business, globalization, innovation and entrepreneurship. The program is well known for its rigorous, and prestigious business education. Learn the techniques and tools of applied business research, so you may solve your organization’s complex business problems.

Each doctoral student enjoys a one-on-one mentorship with world class business faculty. The program has three onsite residencies each semester, with online courses between each residency.

• University Type: Non-profit
• Campus Location: Philadelphia PA; online
• Accreditation: AACSB, Middle State Commission on Higher Education
• Degrees Offered: DBA
• GMAT/GRE Required: No
• Additional Information: The Fox Business School at Temple ranks as one of the top 1% institutions in the world for business and economics citations.

#2 University of New England

– Doctor of Education in Educational Leadership (Ed. D)

The University of New England has a doctoral degree in Educational Leadership, with a focus on transformative leadership. It will teach you how to transform yourself, organization and community through a highly flexible but rigorous curriculum.

Graduates of the program gain skills to build allies with others who want to achieve common outcomes in educational leadership, and learn how to collaborate with those with very different perspectives and values.

This doctoral program is fully online, with no campus visits needed, and consists of 51 credit hours. End goals of the accredited program are:

• To prepare educational leaders who are focused on the future and are capable of bringing change and innovation to their organization
• To promote highly educated and knowledgeable leaders in education who are able to connect and collaborate with each other
• To build a reputation that is based upon collaborative, action based research
• To provide every doctoral student with a strong faculty mentoring team that will enhance their program of study

Required courses include:

• Preparation for Transformative Leadership (Credits: 3)
• Qualitative Research Methods (Credits: 3)
• Interpreting Empirical Data (Credits: 3)
• Technology & Organizational Transformation (Credits: 3)
• Managing Change (Credits: 3)
• Policy Analysis (Credits: 3)
• Enacting Transformative Leadership (Credits: 3)
• Research Team Project A (Credits: 3)
• Research Team Project B (Credits: 3)
• Ethical Leadership (Credits: 3)
• Diagnosing Organizational Dynamics (Credits: 3)
• Dissertation Seminar (Credits: 3)
• Campus Location: Boston, Massachusetts; online
• Accreditation: New England Association of Colleges and Schools
• Degrees Offered: Ed.D.

#3 University of South Florida

– Doctor of Public Health (DrPH)

The University of South Florida offers a Doctor of Public Health that stresses both public health education and training. It is designed to prepare the public health professional with a master’s degree for leadership roles in many practice-based settings, such as:

• Non-profit organizations
• Health services
• International agencies
• Community based groups

The emphasis of this online DrPH is on developing advanced knowledge and expertise in the development, implementation and evaluation of public health practice. The focus is slightly different than a Ph.D., which is heavily focused on research.

This program is completed online, and there also is on-campus learning three times with on campus visits in Tampa. It requires the student to complete a total of 43 semester hours beyond the master’s degree. The core curriculum for the DrPH has four curriculum clusters of 25 credits, and also 12 electives. The major curriculum clusters are in these areas:

• Community Engagement
• Leadership and Management
• Communication and Education
• Evidence-Based Public Health

Advanced training in this DrPH includes collaborating with senior-level public health professionals via applied practice experiences that are designed to hone leadership and professional skills. Understanding of DrPH core knowledge is verified through an exam performed by the doctoral committee. A field-based doctoral project also is required.

• Campus Location: Tampa, FL; online
• Accreditation: CEPH, Southern Association of Colleges and Schools
• Tuition: Inquire
• Degrees Offered: DrPH
• GMAT/GRE Required: Yes; can be waived for students who have a 3.5 or higher GPA in previous work

#4 Colorado Technical University

– Doctor of Management – Project Management

Colorado Technical University offers a Doctor of Management degree online with a concentration in project management. This is a terminal degree for higher level management professionals. The online program with no GRE requirement will encourage you to think and act in a strategic fashion, and to enhance your ability to make meaningful contributions to your area of management.

It features a rigorous curriculum that integrates cutting edge project management tools with advanced concepts in management. This will provide students with the business and management skills to manage the whole lifecycle of a program or product.

The project management concentration will expand the skills of senior level or executive program and portfolio managers. Students also are strongly challenged to contribute to the business and management body of knowledge through scholarly writing projects.

Graduation from this program requires the student to complete a dissertation. It will document your research processes and will present both the findings and conclusions of your research. All doctoral degree programs at CTU require the student to complete a residential symposium.

• Management Theory
• Management and Ethics
• Leadership Theory and Development
• Application of Action Research
• Strategic Thinking and Organizational Alignment
• Practice and Theory of Consulting and Intervention
• Organization Innovation and Scenario Thinking
• Principles of Research Methods and Design
• Qualitative Research Methods
• Quantitative Research Methods
• Doctoral Research I: Principles of Research and Writing
• Doctoral Research II: Annotated Bibliography
• Dissertation Research Process
• Campus Location: Denver, Colorado; online
• Accreditation: Western Association of Colleges and Schools
• Degrees Offered: Doctor of Management

#5 Chamberlain University

– Doctor of Nursing Practice (DNP)

Earning a Doctor of Nursing Practice, with a focus on Healthcare Systems Leadership from Chamberlain University, will provide you with the knowledge and confidence to assist in the transformation of healthcare where you have the most ability to make a difference.

Faculty provide plenty of support and guidance from your first class, and throughout your project and practicum that you complete in your local area. You may complete these projects at your place of work in some cases.

This online DNP program is grounded in the eight essentials that are described in The Essentials of Doctoral Education for Advanced Nursing Practice, which was published by the American Association of Colleges of Nursing (AACN). Input from major nursing profession stakeholders are incorporated into this program from such organizations as the Institute of Medicine and Quality and Safety Education for Nurses.

The program is appropriate for RNs and advanced practice registered nurses (APRNs) who already earned their MSN degree.

Required courses in this online doctoral program are:

• Scientific Underpinnings
• Application of Analytic Methods
• Applied Organizational and Leadership Concepts
• Health Policy
• Fiscal Analysis and Project Management
• DNP Project
• Foundational Concepts and Application
• Theoretical Basis for Advanced Nursing Practice
• University Type: For-profit
• Campus Location: Downer’s Grove, IL; online
• Accreditation: CCNE
• Degrees Offered: DNP

Additional Resources

• Guide to Online Doctorate PhD Programs without GRE
• Things You Can Do with a PsyD Degree
• Why Choose a Doctorate in Education Degree? + No GRE Options
• PhD in Leadership + 3 Online No GRE Degrees
• 50 Best Careers to Get with a Doctorate Degree
• How to Get a PhD in Nursing Programs + No GRE Options
• Salary Difference Between Master’s and Ph.D. (2017, July). Retrieved from http://www.wesstudentadvisor.org/2014/07/salary-difference-between-masters-and-phd.html
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Admissions & Financial Support

To be considered for admission, applicants must have a bachelor’s degree. Undergraduate applicants in his/her senior year are welcome to apply. Here’s what you’ll need to apply:

• Completed online application form
• Résumé or curriculum vitae
• Statement of Purpose
• Personal Statement
• Transcripts for all college/university degrees and courses: Self-reported transcripts are accepted for all programs. Applicants must upload copies of all transcripts to the online application system.
• Current GMAT or GRE scores
• TOEFL scores (non-native English speakers who did not receive an undergraduate degree from a university of college where the primary language of instruction is English)
• Three letters of recommendation (at least one from an academic source).
• Recommendation letters must be submitted online through the online application system. Hard copy recommendation letters will not be accepted.
• $105 application fee via credit card.

This is a difficult question to answer. . . Our application pool is extremely competitive and each program has unique preferences.

Students in Harvard Business School Doctoral Programs represent diverse backgrounds, degrees, undergraduate schools, and disciplines - including physics, math, economics, psychology, and engineering. Some students enter our doctoral programs upon graduation from college, while others spend a few years working before they pursue a career in business academia. However, all students in our doctoral programs have strong quantitative and analytical skills, as demonstrated by their records of academic performance and test scores. Ultimately, we are looking for applicants with strong potential for conducting innovative and independent research that also have the motivation and drive to pursue a career in business academia. Having letters of recommendation from Faculty who are able to comment on your research skills and/or potential is particularly helpful for the admissions committee when considering your fit for our program.

Yes. Applicants who applied last year may file a new application. We strongly recommend that you submit at least one new letter of recommendation from someone who has not written previously.

HBS Doctoral Programs will not accept more than three applications from any individual during the course of his or her academic career.

The TOEFL or IELTS requirement may be waived only if the applicant's native language is English or he/she submits a transcript indicating successful completion of an undergraduate degree from a university or college where the primary language of instruction is English. A U.S. master’s degree will not supersede a U.S. bachelor’s degree in this case. Because of the rigorous nature of the academic coursework at Harvard, the committee prefers scores of at least 100 on the TOEFL and 7.5 on the IELTS.

Submitted scores must not be older than two years. If you are applying for admission for Fall 2024, you may submit scores from tests taken no earlier than January 5, 2022.

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• GRE/GMAT/etc

GRE or GMAT, how much I need for PhD in Finance?

By tmc12 June 30, 2013 in GRE/GMAT/etc

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Hi guys, I am interested to apply for a PhD in US and I need to have either GMAT or GRE. Could you please tell me how much I need to obtain in order to have chances for a place? I would like to do a PhD in Finance. AND how important is this examination? thank you. 

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Your GRE score would be a hygiene factor, a great score may still not mean anything if the rest of your application isn't strong, but a really poor score may cut you out. For a PhD in Finance your quant score would be important. In general, your LORs, SOP, relevant research experience, GPA and program fit (not necessarily in that order) would probably weigh more. My personal experience is that the relevance of the GRE may increase slightly for international students. GRE score required would depend on the schools you are applying to, but for top tier schools a PhD Finance program would probably require top percentile quant scores.

Thank you very much for your reply. Could you please tell me if they required specific background? I have done 4 summer internships where are very related with finance (banks and financial institutions). My master's degree is very quantitative. However, my first degree is in business management with some guantitative elements and finance modules. And what about the name and reputation of the university. Do they actually consider this as an important factor? And what about the grades? In my first degree, from UK, I got 66%.  In UK is called 'high 2.1'. Have you seen a lot of students with GPA 3-3.4 in their first degree to be admitted in one of the top tier universities?  Thank you.

It goes further than just overall GPA - adcoms will often look at grades in specific courses, level of difficulty of courses and evidence of your capabilities in specific quant / mathematical finance skill sets. You should highlight your quantitative masters degree, specific skill sets learnt, any research experience during your masters (even if not directly related to your phd researchaspirations), etc. A "UK high 2.1" would not rule you out of top tier universities, but needs to be strongly supplemented by everything else. For example, a poor GRE quant score + a poor grade in say a highly quantitative masters course may put adcoms off, and vice versa. Your summer internships may not count for much in terms of the work content (unless it was closely related to academic research - for example research wrt finance policy say with the World Bank for example?; or the nature of the work was highly quantitative?) but even if not, you could position your experiences during the internships as shaping your research interests.

Difficult to predict all the factors that any particular adcom considers, but like any other selection process, there are multiple variables that impact your application and top tier admissions are extremely competitive, so my suggestion would be to broadbase the number of universities you are applying to. Strong LORs would count a lot. Focus also on research fit, specific research done by depts. and POIs, write to POIs in advance to get an idea of your fit, and be familiar with their work.  

Scavenge these forums for a lot of other fantastic advice (and then some) !

Best of Luck!

• 6 months later...

somedayprofessor

Some finance programs require the GRE, some the GMAT. I would find a program your are interested in and be sure to take the right test, maybe both.

I took the GMAT and was not able to apply to one of my top targets because they required the GRE (and I had very little time left when I found out). The school's website can also give you insight on what type of scores they are looking for in qualified candidates.

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